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Alchemy Resources Limited (ASX:ALY)

ALERT: Price-sensitive ASX Announcement for ALY
Current share price for ALY : $0.007 -0.002 (-22.22%)+
Announcement
Release
4 May 2026 8:16AM
Price at Release
$0.009
Full Release
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Summary
Alchemy Resources Limited has successfully completed the sale of its Karonie and Lake Rebecca Projects to Forrestania Resources Limited, as per the terms set out in their earlier announcement. The transaction, which involved the satisfaction of all conditions precedent, provides Alchemy with 7,725,587 shares in Forrestania and ensures ongoing financial participation through a 1% Net Smelter Royalty, excluding the first 110,000 ounces of gold mined. This strategic move allows Alchemy to bolster its financial position and retain flexibility for future exploration endeavors, while continuing to focus on its other high-potential projects.
Key Points
  • Alchemy Resources Limited has completed the sale of its Karonie and Lake Rebecca Projects to Forrestania Resources Limited.
  • The transaction was detailed in an earlier ASX announcement made on 11 March 2026.
  • All conditions for the transaction have been fulfilled, leading to the formal completion.
  • Alchemy will receive 7,725,587 ordinary shares of Forrestania Resources as consideration.
  • The company retains a 1% Net Smelter Royalty on all mined minerals from certain tenements, excluding an initial quantity of gold.
  • The structure of the deal allows Alchemy to maintain financial flexibility and participate in future exploration successes.
  • The CEO, James Wilson, emphasizes the strategic benefit and financial strengthening brought about by the transaction.
  • Alchemy continues to focus on other high-value exploration assets within its portfolio.
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.