InvestSMART

Alchemy Resources Limited (ASX:ALY)

ALERT: Price-sensitive ASX Announcement for ALY
Current share price for ALY : $0.007 -0.001 (-12.50%)+
Announcement
Release
14 Apr 2026 9:05AM
Price at Release
$0.008
Full Release
download
Summary
Alchemy Resources Limited announced that Newcam Minerals Pty Ltd has exercised its option to acquire a 60% interest in Alchemy’s Bryah Basin Iron Ore Project. The acquisition involves a $500,000 cash payment to Alchemy, providing non-dilutive funding support and validating the project's potential. Newcam will manage the joint venture, with Alchemy retaining a 40% free-carried interest up to a Decision to Mine. Approvals for a 70-hole drill program are in place, aimed at confirming resource potential at Valley Bore. This strategic move strengthens Alchemy’s balance sheet and allows focus on other projects.
Key Points
  • Newcam exercises option to acquire 60% interest in Bryah Basin Iron Ore Project
  • Acquisition involves a $500,000 cash payment to Alchemy
  • Newcam to manage the joint venture with Alchemy retaining 40% interest free carried to a Decision to Mine
  • Approval for a 70-hole drill program at Valley Bore
  • Strengthens Alchemy’s balance sheet and enables focus on other projects
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.