Alchemy Resources Limited (ALY) AI Stock Analysis

• Market Cap: AU$10.69M
• Dividend Yield: N/A
• Average Volume (3M): 8.45M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.37
• Revenue Growth: N/A
• EPS Growth: 15.38%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 1,188,076,300
• 10 Day Avg. Volume: 5,530,813
• 30 Day Avg. Volume: 8,445,779
• PEG Ratio: 0.29
• Price to Book (P/B): 0.49
• Price to Sales (P/S): 54.92
• P/FCF Ratio: -3.31
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: AU$0.01 ▲(10.00% Upside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is held down primarily by weak financial performance (recurring losses and negative operating/free cash flow). Technical indicators are mixed with only modest support from short-term price trends, while valuation is constrained by a negative P/E and no dividend yield data.

Positive Factors

Debt-free balance sheet

Zero debt materially reduces solvency and interest-cost risk for an early-stage explorer. Over the next 2-6 months this provides durable financial flexibility to fund exploration through equity or JV structures, and lowers bankruptcy risk during commodity cycles.

Substantial equity buffer

A meaningful equity base helps absorb exploration write-offs and supports continuity of operations without immediate leverage. This structural buffer improves the firm's ability to secure partner funding or staged capital raises while preserving solvency over medium term.

Slightly improved free cash flow

A reduction in negative free cash flow points to incremental operational or spending discipline improvements. If sustained, this trend can lower external funding needs, reduce dilution risk and incrementally strengthen project funding prospects over the coming months.

Negative Factors

Consistent operating cash outflows

Persistent negative operating cash flow indicates the core activities do not generate self-sustaining cash. Over 2-6 months this structural cash burn necessitates external financing, constrains program scale, and raises execution risk if markets or capital access tighten.

Recurring net losses

Ongoing annual losses erode retained capital and reduce runway for exploration. Absent a sustained shift to profitability or clear monetization events, losses will continue to pressure equity, force funding rounds, and limit reinvestment capability over the medium term.

Small, volatile revenue base

An inconsistent and limited revenue base prevents operating leverage and leaves fixed costs dominant. This structural volatility complicates forecasting, weakens margins sustainability, and increases reliance on capital markets or partners to fund ongoing exploration programs.

Alchemy Resources Limited Business Overview & Revenue Model

Company Description

Alchemy Resources Limited engages in the discovery, exploration, and development of mineral properties in Australia. The company explores for gold, nickel, cobalt, copper, silver, lead, zinc, lithium, and alumina deposits. It owns a 100% interest in the Karonie project covering 1,196 square kilometers located to the east of Kalgoorlie, Western Australia; the Lake Rebecca gold project covering approximately 570 square kilometers located in the Eastern Goldfields of Western Australia; and the Lachlan/Cobar Basin projects covering 674 square kilometers situated in New South Wales. In addition, it owns interests in the West Lynn and Woodsreef projects covering an area of 381 square kilometers located in New South Wales and Bryah Basin project covering an area of 584 square kilometers located to the north east of Meekatharra, Western Australia. Alchemy Resources Limited was incorporated in 2007 and is based in West Perth, Australia.

How the Company Makes Money

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Alchemy Resources Limited Financial Statement Overview

Summary

Overall financials are weak due to recurring net losses and consistently negative operating/free cash flow, indicating ongoing funding needs. The main strength is a conservative balance sheet with zero debt and a sizable equity base, which reduces solvency risk despite continued cash burn.

Income Statement

Revenue is small and volatile (2025 revenue rose vs. 2024, but the multi-year pattern is inconsistent), and profitability remains weak. The company has reported net losses every year, with 2025 net margin still deeply negative despite being less extreme than 2024. Gross profit margin appears high, but operating costs dominate, keeping EBIT and net income negative and indicating limited operating leverage at the current revenue base.

Balance Sheet

The balance sheet is conservatively positioned with zero debt across all periods, reducing financial risk and interest burden. Equity remains substantial relative to assets, supporting resilience for an early-stage resource company. The key weakness is persistent negative returns on equity (loss-making operations), and equity has declined from prior-year levels, consistent with ongoing losses and cash burn.

Cash Flow

Cash generation is consistently negative: operating cash flow has been an outflow every year, and free cash flow is also negative, reflecting ongoing funding needs. Free cash flow was slightly less negative in 2025 versus 2024, but remains meaningfully below zero overall, and year-to-year free-cash-flow growth is choppy. With negative operating cash flow and net losses, the business likely depends on external capital to sustain exploration and corporate costs.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	44.35K	107.31K	8.22K	85.15K	16.85K	21.89K
Gross Profit	44.35K	107.31K	8.22K	-453.00	16.85K	13.84K
EBITDA	-591.86K	-483.19K	-1.48M	-712.12K	-557.00K	-516.78K
Net Income	-2.19M	-1.30M	-1.48M	-713.00K	-806.00K	-524.83K
Balance Sheet
Total Assets	10.77M	12.31M	13.49M	14.98M	10.19M	7.81M
Cash, Cash Equivalents and Short-Term Investments	1.02M	1.23M	3.01M	5.01M	2.01M	924.38K
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	348.40K	319.00K	239.69K	353.31K	247.29K	155.34K
Stockholders Equity	10.42M	11.99M	13.25M	14.62M	9.94M	7.65M
Cash Flow
Free Cash Flow	-1.01M	-1.78M	-1.99M	-2.23M	-1.90M	-1.68M
Operating Cash Flow	-389.20K	-304.58K	-273.16K	-212.90K	-453.43K	-428.52K
Investing Cash Flow	-841.68K	-1.48M	-1.72M	-2.01M	-1.44M	-1.25M
Financing Cash Flow	250.00K	0.00	0.00	5.22M	2.98M	1.73M

Alchemy Resources Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
GMN	50 Neutral	AU$22.49M	-1.14	-28.97%	―	―	-40.85%
ALY	47 Neutral	AU$10.69M	-1.61	-19.54%	―	―	15.38%
PRX	46 Neutral	AU$20.56M	-2.09	-58.76%	―	―	77.62%
AUV	43 Neutral	AU$11.57M	-0.53	-349.72%	―	―	―
MBK	43 Neutral	AU$16.83M	-3.00	-15.81%	―	―	31.75%
MDI	42 Neutral	AU$31.79M	-6.56	-11.72%	―	―	23.08%

Alchemy Resources Limited Corporate Events

Alchemy Resources Sells Karonie and Lake Rebecca Projects to Forrestania for $5m in Shares

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.

Alchemy Resources Sells Karonie Gold Tenements to Forrestania in $5m Share Deal

Alchemy Resources has agreed to sell a package of 16 exploration licences in the Eastern Goldfields, including the Karonie Gold Project, to Forrestania Resources for $5m in Forrestania shares, priced on a 10‑day volume‑weighted average. The transaction transfers Karonie’s 111,100‑ounce inferred gold resource and a large, highly prospective tenure package near existing mills, marking a significant reshaping of Alchemy’s asset base while strengthening Forrestania’s regional growth ambitions in Western Australian gold.

The Karonie licences span about 942 sq km in the Kurnalpi greenstones east of Kalgoorlie, lying close to Vault Minerals’ Aldiss Mining Centre, Randalls processing plant and major deposits held by Ramelius and Northern Star. By divesting these strategically located assets into a share‑based deal, Alchemy gains liquidity exposure to Forrestania’s expanded Eastern Goldfields hub, while Forrestania consolidates ground along the under‑explored Claypan Shear Zone to support potential near‑term production plans.

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.

Alchemy Resources Advances Lithium, Iron Ore and Base Metals Portfolio with Strong Quarter of Drilling and New JV

Alchemy Resources reported strong exploration progress in the December 2025 quarter, highlighted by completion of a 211-hole aircore program over high-priority lithium targets at the Roe Hills area of its Karonie Project in Western Australia, under a farm-in joint venture with Japan’s JOGMEC. Assays from these pegmatite-hosted targets returned broad zones of lithium-related mineralisation, leading to the commencement of follow-up RC drilling after quarter-end, while the company closed the period with $1.02 million in cash after $379,000 in net exploration spend.
In Western Australia’s Bryah Basin, Alchemy signed a binding agreement with Newcam Minerals that allows Newcam to earn 60% of the company’s iron ore assets while leaving Alchemy with a 40% free-carried stake to a decision to mine, supported by $1 million in staged option payments and a premium equity subscription; a maiden RC program at Valley Bore delivered exceptionally high-grade iron ore intercepts, underpinning the project’s potential. In New South Wales, RC drilling at Yellow Mountain confirmed and expanded base metal and gold mineralisation with long CuEq intercepts in all five holes, and IP surveys defined strong chargeability anomalies aligned with the current geological model and in untested areas, positioning Alchemy for further resource growth and exploration catalysts across its diversified commodity portfolio.

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.

Alchemy Resources Posts Quarterly Cash Flow Gain on Option Income and Equity Raising

Alchemy Resources Limited reported its quarterly cash flow for the period ended 31 December 2025, highlighting its position as an exploration-focused miner with no operating revenue and ongoing investment in project advancement. The company recorded net cash outflows of A$191,000 from operating activities, primarily due to staff and corporate costs, and spent A$379,000 on exploration and evaluation, partially offset by A$550,000 in income from the provision of an option over part-acquisition of an Alchemy project and A$250,000 from an equity issue, resulting in a net increase in cash for the quarter and indicating continued funding support for its exploration 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.

Alchemy Flags New High-Priority Drill Targets at Yellow Mountain Copper Project

Alchemy Resources has reported strong induced polarisation (IP) anomalies at its Yellow Mountain copper project in New South Wales, with chargeability responses up to 35mV/V that align closely with existing geological and mineralisation models. Inversion modelling has identified two robust drill targets immediately along strike from recent high-grade intercepts, including 113m at 1.17% CuEq and 31m at 1.54% CuEq, and the newly defined geophysical anomalies extend into previously untested areas, providing a clearer framework for expanding the known copper system. The company says the close spatial correspondence between IP responses and known mineralised zones significantly improves targeting efficiency and reduces exploration risk, positioning Yellow Mountain for a value-adding next phase of drilling, with heritage surveys set to begin in February 2026 and drill planning already well advanced.

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.

Alchemy Resources Launches RC Drilling on Lithium Targets at Roe Hills JV

Alchemy Resources has confirmed multiple lithium and pathfinder element anomalies at its Roe Hills Joint Venture project in Western Australia, identified through a 211-hole aircore drilling program completed in late 2025. The company will now commence a reverse circulation drill campaign of up to nine holes totaling around 1,500 metres over the next two weeks to test high-priority lithium-caesium-tantalum pegmatite targets that coincide with major structural trends and both outcropping and newly discovered pegmatites, under a farm-in and joint venture with JOGMEC, which can earn a 51% stake by funding up to $6 million by March 2029.

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.

Alchemy Resources Updates Director Anthony Ho’s Option Holdings After Expiry

Alchemy Resources Limited has reported a change in the indirect holdings of director Anthony Ho, following the expiry of a series of unquoted options. The 2,000,000 unquoted options exercisable at $0.0405 and expiring on 23 December 2025 have lapsed with no consideration, leaving Ho indirectly holding 2,000,000 unquoted options exercisable at $0.015 and expiring on 31 December 2028; the administrative update indicates a simplification of his option exposure without any on‑market trading or impact on the company’s share capital.

Alchemy Resources Options Lapse, Simplifying Capital Structure

Alchemy Resources Limited has announced the expiry of 6,000,000 unexercised options, each with an exercise price of A$0.0405 and an expiry date of 23 December 2025, resulting in the cessation of these securities. The lapse of these options slightly simplifies the company’s capital structure by removing a tranche of potential equity dilution, which may provide greater clarity around the current issued capital for shareholders and potential investors.

Alchemy Resources Announces Director’s Interest Change

Alchemy Resources Limited announced a change in the director’s interest, with Anthony Ho acquiring 2,000,000 unquoted options exercisable at $0.015, expiring on 31 December 2028. This change follows shareholder approval at the company’s annual general meeting in November 2025, reflecting the company’s ongoing efforts to align its leadership interests with long-term strategic goals, potentially impacting stakeholder confidence and market perception.

Alchemy Resources Issues Unquoted Equity Securities

Alchemy Resources Limited has announced the issuance of 6,000,000 unquoted equity securities, specifically options expiring on December 31, 2028, at an exercise price of $0.015. This issuance is part of previously announced transactions and is not intended to be quoted on the ASX, potentially impacting the company’s capital structure and providing strategic flexibility for future operations.