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Alchemy Resources Limited ( (AU:ALY) ) has issued an update.
Alchemy Resources has agreed to sell its Karonie and Lake Rebecca gold projects in Western Australia to Forrestania Resources for $5 million in Forrestania shares, based on a 10-day volume-weighted average price, and will retain a 1% net smelter royalty over all minerals from the tenements except for the first 110,000 ounces of gold from three specified deposits. The deal, which remains subject to due diligence, shareholder and regulatory approvals, enables Alchemy to crystallise value from a non-core asset, strengthen its balance sheet and reallocate capital and management attention to its Yellow Mountain and Overflow copper-gold projects, while preserving upside through the royalty and advancing its iron ore and lithium interests as part of a broader 2026 growth strategy.
The most recent analyst rating on (AU:ALY) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Alchemy Resources Limited stock, see the AU:ALY Stock Forecast page.
More about Alchemy Resources Limited
Alchemy Resources Limited is an Australian mineral exploration company focused on copper, gold, iron ore and lithium assets across Western Australia and New South Wales. Its portfolio includes the Yellow Mountain and Overflow copper-gold projects, the Valley Bore high-grade iron ore project, and a lithium joint venture with Japan’s government-backed JOGMEC, positioning the company to leverage key commodity themes.
Average Trading Volume: 2,419,746
Technical Sentiment Signal: Sell
Current Market Cap: A$11.88M
See more insights into ALY stock on TipRanks’ Stock Analysis page.