1、 ALCHEMY RESOURCES LIMITED ABN 17 124 444 122 ANNUAL REPORT For the year ended 30 June 2024 ANNUAL REPORT 30 JUNE 2024 Page 1 of 84 CONTENTS CORPORATE DIRECTORY.2 CHAIRS LETTER.3 KEY INVESTMENT HIGHLIGHTS.4 REVIEW OF ACTIVITIES.5 AUDITORS INDEPENDENCE DECLARATION.49 CONSOLIDATED STATEMENT OF PROFIT
2、OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2024.50 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2024.51 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2024.52 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024.53 NOTES TO
3、 THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024.54 CONSOLIDATED ENTITY DISCLOSURE STATEMENT FOR THE YEAR ENDED 30 JUNE 2024.75 DIRECTORS DECLARATION.76 INDEPENDENT AUDITORS REVIEW REPORT.77 ADDITIONAL SHAREHOLDER INFORMATION AS AT 16 SEPTEMBER 2024.81 TENEMENT SCHEDULE.83 ANNU
4、AL REPORT 30 JUNE 2024 Page 2 of 84 CORPORATE DIRECTORY DIRECTORS&MANAGEMENT Lindsay Dudfield Non-Executive Chair Liza Carpene Non-Executive Director Anthony Ho Non-Executive Director James Wilson Chief Executive Officer COMPANY SECRETARY Carly Terzanidis REGISTERED ADDRESS Level 3,88 William Street
5、 Perth WA 6000 PRINCIPAL PLACE OF BUSINESS Suite 8,8 Clive Street West Perth WA 6005 Telephone:+61(8)9481 4400 Facsimile:+61(8)9481 4404 Email:.au Web:.au AUDITORS BDO Audit Pty Ltd Level 9,Mia Yellagonga Tower 2 5 Spring Street Perth WA 6000 BANKERS National Australia Bank 226 Main Street Osborne P
6、ark WA 6017 SHARE REGISTRY Automic Group Level 5,191 St Georges Terrace Perth WA 6000 Telephone:+61(2)9698 5414 STOCK EXCHANGE LISTING The Company is listed on the Australian Securities Exchange Ltd(“ASX”)Home Exchange:Perth,Western Australia ASX Code:ALY ANNUAL REPORT 30 JUNE 2024 Page 3 of 84 CHAI
7、RS LETTERDear Fellow Shareholders,On behalf of the Board of Directors,I am pleased to present the Annual Report of Alchemy Resources Limited for the year ended 30 June 2024.The 2024 financial year was a particularly challenging period for junior explorers with difficult equity and commodity market c
8、onditions resulting in subdued investor interest in the sector.However,despite these headwinds we continued to advance our portfolio in readiness to capitalise on the inevitable change in investor sentiment that lies ahead.In last years Chairs letter,I noted that Alchemy holds five main projects cov
9、ering a range of commodities including gold,lithium,base metals,nickel and cobalt,all located in mining friendly parts of Australia and each with the potential to host“company making”deposits.During the period iron ore was added to the mix following the announcement of high-grade rock chip results f
10、rom our Valley Bore Iron Ore prospect in the Bryah Basin.A significant achievement during FY2024 was completion of an access agreement with the Traditional Owners of the land at Alchemys Overflow,Yellow Mountain and West Lynn projects in New South Wales.We are particularly excited about the potentia
11、l at Yellow Mountain,a very promising base metal-gold target which has not been explored since 1986,and this agreement,which was close to five years in the making,paves the way for drilling to commence early 2025.We made further progress at our 100%owned Karonie and Lake Rebecca projects in Western
12、Australia with soil sampling outlining broad lithium anomalism over large areas at the Roe Hills and Manhattan prospects.Karonie and Lake Rebecca are also very prospective for gold and Alchemy plans to build on the 111,000oz3 gold resource already delineated at Karonie in the coming period.The Bryah
13、 Basin Gold Joint Venture,also in WA,continued to be explored at no cost to Alchemy by partner Catalyst Metals(ASX:CYL).Given record gold prices Catalyst is evaluating the potential to include the Hermes South deposit(and any additional resources outlined at the Joint Venture)as open pit feed for th
14、eir Plutonic Mine,65km to the north-east.As noted above,Alchemy confirmed high-grade iron ore outcrops at Valley Bore,following the withdrawal of Sandfire Resources(ASX:SFR)from the Bryah Basin Base Metals Joint Venture.Surprisingly Valley Bore has never been drilled,with early drill testing a high
15、priority for the Company.Alchemys portfolio includes several high-quality,drill ready targets,any one of which could add significant value to the Company on exploration success,and full credit must go to CEO James Wilson and the rest of our small but dedicated team for their hard work and persistenc
16、e in advancing these opportunities during FY2024.I would also like to thank my fellow Board members and you,our shareholders,for your support and patience over the past year and we look forward to early success in the coming period.Lindsay Dudfield Chair ANNUAL REPORT 30 JUNE 2024 Page 4 of 84 KEY I
17、NVESTMENT HIGHLIGHTS Growth strategy focussed on building a portfolio of quality mineral resources through innovative exploration and strategic acquisition,with the aim of realising value to Shareholders through the mining or sale of mineral discoveries.KARONIE PROJECT(WA)and LAKE REBECCA(WA)Lithium
18、 and Gold Quality lithium and gold targets close to existing resources and processing infrastructure.LACHLAN/COBAR BASIN PROJECTS(NSW)Gold/Base Metals High grade gold and base metal drill targets within the Overflow and Yellow Mountain Projects.BRYAH BASIN PROJECT(WA)Gold/Base Metals/Iron Ore Joint-
19、venture funded exploration for high-grade gold,base and iron ore metals in a highly prospective metallogenic province.CORPORATE On 27 November 2023,5,000,000 unquoted options exercisable at$0.022 expired.On 31 December 2023,10,000,000 unquoted performance rights,7,000,000 unquoted options exercisabl
20、e at$0.0252 and 250,000 unquoted options exercisable at$0.025 expired.On 29 December 2023,9,000,000 unquoted options exercisable at$0.025,5,000,000 unquoted options exercisable at$0.04 and 6,000,000 unquoted options exercisable at$0.06,all expiring three years from issue,were issued to James Wilson,
21、employees and contractors.On 10 April 2024 Alchemy announced the appointment of BDO Audit Pty Ltd as the Companys auditor following the resignation of BDO Audit(WA)Pty Ltd(“BDO WA”),as a result of BDO WA restructuring its audit practice.ANNUAL REPORT 30 JUNE 2024 Page 5 of 84 REVIEW OF ACTIVITIES Al
22、chemy Resources Limited(ASX:ALY;“Alchemy”or“the Company”)is an Australian exploration company focused on growth through the discovery and development of gold,base metal and battery metal resources within Australia.The Company has built a significant land package in the Karonie-Carosue Dam greenstone
23、 belt in the Eastern Goldfields region in Western Australia and has a Joint Venture(“JV”)Agreement with Develop Global Ltd(ASX:DVP;“Develop”)where Alchemy has earned an 80%interest in the Lachlan/Cobar Basin Projects in New South Wales,both well-endowed metal provinces with significant upside for li
24、thium,gold,silver,copper,lead,zinc,nickel and cobalt mineralisation.The Company also maintains its interest in the Bryah Basin Project in the gold and base metal-rich Gascoyne region of Western Australia,where Alchemy operates 100%owned base metal and iron ore projects,and for gold with farm-in and
25、joint venture partners Billabong Gold Pty Ltd(“Billabong”),a subsidiary of ASX listed Catalyst Metals Ltd(ASX:CYL)(“Catalyst”)(Figure 1).Figure 1:Alchemy Resources Project Location Map REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 6 of 84 Exploration over the last 12 months focussed on the Ka
26、ronie,Lake Rebecca and Bryah Projects in Western Australia and the Overflow and West Lynn Projects in New South Wales.The Western Australian work included a continuation of reverse circulation(“RC”)drilling at the lithium targets at Cherry,Hickory,Mesquite and Pecan and gold targets at Challenger.So
27、il sampling focussed on expanding on testing regional projects at Roe Hills and Manhattan to advance targeting for future drill programs.Multiple heritage clearance surveys were conducted to facilitate drill access into Taupo and the Cherry/Hickory areas.In New South Wales,work saw the completion of
28、 the right to negotiate process to gain access into Yellow Mountain and on producing a maiden Resource statement for the Overflow Project,and the execution of an option agreement with Ionick Metals Ltd for the West Lynn Project.In the Bryah Basin,Alchemy regained 100%of the base metals projects form
29、erly held by Sandfire Resources Ltd(ASX:SFR)with early mapping and sampling work on the Valley Bore iron ore targets showing significant potential at an early stage.Alchemys strategy for the next 12 months is to:Advance the lithium and gold prospectivity at the Karonie Project.Undertake targeted dri
30、ll programs at the Karonie Project with the aim of delineating significant gold and lithium resources.Complete ground mapping and targeting lithium and gold in the northern and western Karonie Tenure at Roe Hills and Manhattan Prospects.Unlock the gold,base metal and battery metal potential of the L
31、achlan/Cobar Projects through systematic exploration and targeted drill campaigns with a focus on Yellow Mountain,Overflow,and Melrose.Closely monitor exploration and Hermes South activities undertaken by Billabong within the Bryah Basin JV.Undertake systematic exploration in the 100%owned Bryah ten
32、ure,with a focus on advancing the Valley Bore and Old Highway iron ore targets.Continue to enhance the Companys position through strategic investment decisions and evaluation of quality advanced project opportunities throughout Australia.KARONIE PROJECT(WA)(Alchemy 100%)The Karonie Project includes
33、13 exploration licences covering 722km2 of highly prospective mineralised structures within Kurnalpi Terrain greenstones 100km east of Kalgoorlie(Figure 2).The Project is located along strike of Silver Lake Resources Ltds(ASX:SLR,“Silver Lake”)Aldiss Mining Centre(reserves/resources of over 595,000o
34、z 2.0g/t Au1),is within 50km of Silver Lakes Randalls processing plant and covers 38km of the under-explored,gold endowed Claypan Shear Zone commencing just 12km along strike to the south of Ramelius Resources Ltds(ASX:RMS,“Ramelius”)Bombora deposit(resource of 1.7Moz 1.6g/t Au2).Alchemy announced a
35、 maiden Resource for the KZ5,Taupo and Parmelia prospects of 111koz in August 20213.1 Refer to SLR ASX announcement dated 15 September 2021 Mineral Resource,Ore Reserve Statement and Outlook to FY24 2 Refer to Breaker Resources NL(ASX:BRB)ASX announcement dated 20 December 2021 Lake Roe Gold Project
36、 Mineral Resource Update 3 Refer to ALY ASX announcement dated 31 August 2021 Maiden 111,100oz JORC 2012 Resource at Karonie REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 7 of 84 Figure 2:Alchemy Resources Karonie and Lake Rebecca Project Location Map During the year,Alchemys work focussed on
37、 the completion of mapping and follow-up RC drill testing of the Cherry,Hickory,Mesquite and Pecan targets.Mapping at the Mesquite prospect discovered lithium mineralisation with coarse lepidolite crystals in pegmatite outcrops mapped over a 1,200m strike extent.Rock chips assays returned peak value
38、s of 0.45%Li2O,141ppm Cs,33.6ppm Ta2O and 4,030ppm Rb4.A strategic review of lithium targets was completed across the Lake Rebecca and Karonie tenure by an external lithium focussed consultant.The review generated numerous additional targets for follow-up 4 Refer to ALY ASX announcement dated 27 Oct
39、ober 2023 Lithium and Gold Exploration Update REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 8 of 84 and highlighted that existing targets have yet to be effectively tested by drilling.Planning is underway to bring these targets into the exploration pipeline over the next 12 months.Infill soil
40、 sampling was completed at Taupo North.Results showed a broad zone of anomalism across a 3km wide zone with coincident pathfinder anomalism.A cultural heritage survey was undertaken at the Taupo Prospect which will facilitate drilling access for future lithium and gold exploration drill programs.Soi
41、l sampling was also undertaken at Roe Hills and Manhattan Prospects which returned multiple anomalous areas over both project areas.Infill soil sampling has since been undertaken to further refine the targets which are up to 12km x 6km in size.At Lake Rebecca,project wide pXRF soil geochemistry samp
42、ling was completed in November 2023.Results showed that anomalism was too low level for pXRF to be a reliable tool and soil chemical assays will be used going forward.Diamond core drilling was completed at the Challenger gold prospect in September 2023.Results showed numerous zones of low-grade gold
43、 mineralisation within a thick sequence of prospective quartz dolerites.Follow-up drilling is planned.Hickory,Mesquite,Pecan and Taupo North RC drilling At Alchemys 100%owned Karonie Gold-Lithium Project in Western Australia,work focussed on follow-up testing of the Hickory,Mesquite and Pecan lithiu
44、m targets.The program,which was completed in June 2023,consisted of 19 holes for 2,562m of RC drilling to test outcropping pegmatites identified from field mapping and geophysics.The drilling targeted the down dip extent of pegmatites at the base of the shallow alluvial cover.Results were announced
45、on 28 August 2023.In the northern areas,abundant quartz veining was observed in multiple holes,however no pegmatites were intercepted in the corresponding gravity low target.HYRC045 was drilled beneath the previous spodumene intercept in hole HYRC0065 and returned two intercepts of 0.1%Li2O at 128m
46、and 233m6 downhole suggesting that mineralisation does continue at depth,albeit at low grade.Importantly,the large gravity low anomaly in the area is still to be adequately explained and could be the result of differing orientation of the interpreted structures in the north relative to the zones obs
47、erved in the south.5 Refer ALY ASX Announcement dated 13 January 2023 Spodumene and Lepidolite Identified in Pegmatites at Karonie 6 Refer ALY ASX Announcement dated 28 August 2023 Karonie Exploration Update REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 9 of 84 Figure 3:Karonie RC drill progr
48、am with assay intercepts A follow-up RC drill program was commenced in late 2023.The Karonie lithium focussed drill program consisted of 13 RC drillholes for a total of 1,508m over the Cherry,Hickory,Pecan and Mesquite prospects.Eight RC drillholes for 871m were drilled at Cherry and Hickory targeti
49、ng geochemical anomalies associated with mapped pegmatite outcrops.The drilling intersected multiple thin pegmatites with the chemical assays showing that the pegmatite system is fertile for over 1,200m,albeit with broad low-grade intercepts7.Five RC drillholes for 630m were drilled at Mesquite and
50、Pecan to target pegmatite outcrops that contained coarse lepidolite crystals.Multiple thin pegmatites were intersected with lepidolite identified in logging in drillhole MQRC009 which indicates the mineralised zones seen in surface rock chips are persistent at depth.Assay results are shown in Table
51、1.7 Refer ALY ASX Announcement dated 7 March 2024 Karonie Lithium Exploration Update.REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 10 of 84 Figure 4:Cherry/Hickory(LHS)and Mesquite/Pecan(RHS)RC drill program with significant intercepts and assays and previously released rock chip results Tabl
52、e 1:Listing of completed RC drillholes Taupo North RC Drilling The Taupo North prospect sits along the structural trend which hosts the Karonie gold deposits to the north of the Aldiss Mining Operations owned by Silver Lake.Most of the area to the north of Alchemys Taupo Prospect is covered by a thi
53、n alluvial cover and has no history of lithium exploration.Multi-element soil sampling was conducted in early 2023.Results showed a broad zone of lithium in soils Hole IDTypeDepthEastingNorthingRLDip AzimuthProspectFrom ToWidthLi2O%Ta2O5 ppm Cs ppmGa ppm Nb ppmRb ppm Sn ppm CHRC002RC1204602816569573
54、362.245-55CHERRYCHRC003RC904604036569298355.690-55CHERRYCHRC004RC132460409656911036090-55CHERRYCHRC005RC1024604936569090361.390-55CHERRYHYRC047RC724605526570331360.390-55HICKORYHYRC048RC854607686570175362.590-55HICKORY313650.138.38117.82926.28298.8HYRC049RC1204605686570143364.490-55HICKORYHYRC050RC1
55、504607346570038363.390-55HICKORY525310.14102403537145015MQRC009RC1504609496573569372.8135-55MESQUITE6768a0.121251.64324159520MQRC010RC1504608496573444368.4135-55MESQUITEMQRC011RC1204608846573370371.7135-55MESQUITEMQRC012RC1204609486573332373.9135-55MESQUITEPNRC018RC904614206574702387.4135-55PECANNSI
56、NSINSINSINSINSINSINSINSINSI REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 11 of 84 anomalism which extends for approximately 3km x 1.5km.In addition,recent re-logging of drill samples has recognised amazonite pegmatites in two historic drillholes in the north of the Taupo prospect.RC drilling
57、 targeted the down dip extent of pegmatites observed in the two historic drillholes which were resampled and returned highly anomalous multi-element re-assays.Seven holes were completed at Taupo North for 948m of drilling.Results indicated multiple shallow dipping lodes with numerous narrow zones ob
58、served in all holes(Figure 5).Pegmatite intercepts were traceable over multiple holes with varying widths and depths up to 186m downhole.Assay results from the drill program show multiple holes with elevated lithium and pathfinder anomalism across holes TNRC001,TNRC005 and TNRC007.Best intercepts in
59、cluded TNRC007:1m 0.1%LiO,13ppm TaO,56ppm Cs,2970ppm Rb and 180ppm Sn8.The pegmatites coincide with recent rock chips and soil sampling with anomalous zones extending for a further 3.5km to the south towards Taupo Prospect.The zones occur adjacent to a gabbro body to the west,which the Company belie
60、ves may hold additional exploration upside as the pegmatites are observed to thicken in the high pyroxene dolerite and gabbro units,similar to Hickory Prospect.Figure 5:Taupo North cross section 6571930mN showing pegmatite intercepts Mesquite prospect mapping Geological mapping continued during the
61、year at the Mesquite Prospect.Field checking of gravity targets was completed,and a previously unmapped pegmatite discovered on a high priority target area was found to contain coarse lepidolite and spodumene.Rock chip assays of the outcrop returned peak values of 2,723ppm Li2O,167ppm Cs,62.8ppm Ta2
62、O and 2,390ppm Rb9.Additional detailed mapping at this area has identified multiple pegmatite outcrops which contain coarse lithium minerals including 8 Refer ALY ASX Announcement dated 28 August 2023 Karonie exploration update 9 Refer ALY ASX Announcement dated 19 May 2023 Lepidolite and Spodumene
63、discovered on new target areas REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 12 of 84 lepidolite and petalite.Six rock chip samples were taken from various locations around the high priority target areas.Several previously unmapped pegmatite bodies were discovered and found to contain coarse
64、lepidolite and traces of spodumene with assays up to 0.45%Li2O in rock chip PN00410.Importantly the lepidolite/spodumene occurrences are located at the southern end of the high priority gravity target area.The pegmatites trend to the north and south for up to 1,200m towards Pecan Prospect,with the m
65、ajority of the area under thin alluvial cover.The location of the new outcrops is shown in Figure 6 below.Photographs of specimens taken from each outcrop are shown in Figure 7 and Figure 8,with sample locations and assay results for the samples received shown in Table 210.Table 2:Rock chips from Me
66、squite Prospect,sample locations and assay results 10 Refer ALY ASX Announcement dated 27 October 2023 Lithium and Gold exploration update REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 13 of 84 Figure 6:Mesquite mapping(light blue)showing new lithium-caesium-tantalum(“LCT”)pegmatites with ass
67、ays from rock chips Figure 7:Rock chip PN002 showing coarse lepidolite crystals in pegmatite with assay of 0.16%LiO Figure 8:Rock chip PN004 showing coarse lepidolite crystals in pegmatite which returned 0.45%LiO Hickory and Taupo North Soil Sampling Soil sampling at the area between Hickory and Tau
68、po North was completed during the year4.The program aimed to infill soil sampling to the south and east towards Cherry/Hickory.Results show a broad zone of anomalism across the 3km wide area,which will be field checked.Lithium anomalism 30ppm in soils is considered worthy of follow-up and is highlig
69、hted in Figure 9.The soil sampling results also showed coincident rubidium,tin,tantalum and gallium pathfinder anomalism over the same area.Planning is underway to complete a heritage survey on the western side of Taupo North to REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 14 of 84 facilitat
70、e upcoming drilling.The gap in sampling is due to an alluvial channel which cross cuts the area and was not sampled due to the presence of transported material.Figure 9:Soil Sampling at Taupo North-Hickory area showing lithium results and anomalism Roe Hills and Manhattan Prospect soil sampling(E28/
71、2681,E28/2667)Roe Hills lies along a distinctive structural trend from the pegmatite field that hosts Global Lithium Resources Ltds(ASX:GL1)Manna Lithium deposit(51.6Mt 1.0%Li2O11),5km to the north-east.Geological Survey of Western Australia(“GSWA”)mapping has identified a high density of narrow pla
72、gioclase dykes,porphyritic dykes and quartz veins adjacent to the granite contact zone.Multi-element soil sampling conducted by Alchemy in 2018-2020 highlighted multiple areas of low-level lithium anomalism and coincident pathfinder anomalism across a broad strike extent.Mapped dykes appear to have
73、a north-south strike extent,parallel to the greenstone/granite contact,however most of the areas around the known mapped dykes are covered by alluvium and it is likely that these areas are far more extensive than the known outcrops.The current soil sampling campaign at Roe Hills is aimed at gaining
74、a complete dataset on the western side of the Cardunia Granite adjacent to the Manna lithium deposit.Wide spaced first pass soil sampling completed in 2019 identified several lithium pathfinder anomalies,with recent follow up soil sampling completed on a 400m x 400m offset grid spacing.Results are o
75、utlined in Figure 10 and show multiple large-scale anomalies within a 15km x 3km zone,a 12km x 6km zone and a third area of 3.5km x 3.5km.11 Refer to GL1 ASX Announcement dated 12 June 2024 43%Increase in Manna Lithium Deposit Mineral Resource REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 15
76、of 84 The Manhattan prospect sits immediately east of GL1s Manna project.The area has seen no modern exploration for lithium and only limited exploration for gold despite being located along the Claypan Shear which extends up towards Ramelius Lake Roe gold deposit nearby.At Manhattan prospect,broad
77、lithium anomalism has been recorded in wide spaced soils over a 10km x 6km zone.This area,which has yet to be field checked,has significant surface cover and little mapped outcrops.Figure 10:Roe Hills(E28/2681)and Manhattan Prospect(E28/2667)soil sampling results(Li ppm)12 Geochemical review complet
78、ed on Karonie and Lake Rebecca lithium projects Alchemy conducted multiple programs of regional multi-element soil sampling in 2022 generating numerous lithium targets4.As part of a strategic review of targets,the data was reviewed by an external lithium focussed consultant for analysis.The outcomes
79、 of the report proposed numerous areas for follow-up including:12 Refer to ALY ASX Announcement dated 29 May 2024 Karonie Exploration Update REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 16 of 84 Hickory:Drilling at Hickory failed to adequately test the surface LCT anomalies.Follow up drillin
80、g was completed in December 2023 to test these targets with no significant results noted in assays.Mesquite/Pecan:These areas remain largely untested given the presence of LCT pegmatites in the rock chip data,this has been further enhanced by the reported rock chip data.Taupo North:Drilling has inte
81、rsected intermediate and border zone LCT pegmatites which may indicate the outer edges of a mineralised system.Further drilling is planned once heritage surveys have been completed.Red Oak and Alder:Proposed infill geochemistry on multiple regional soil anomalies.Middle Tank Prospect(new):Area of in
82、terest over 900m in strike and characterised by coincident Li,Cs,Ta,Rb and Rb:K ratios along with elevated auriferous pathfinder elements(Ag,Bi,Mo,Sb,W),which requires infill.Roe Hills:Regional soil geochemistry to evaluate the prospectivity of wall zone pegmatites,which has now been completed and o
83、utlined significant large-scale anomalies to test.Heritage Survey completed at Taupo.A cultural heritage survey was completed during the year.A survey team comprising the registered Native Title Holders of the Kakarra People,an independent anthropologist and Alchemy staff reviewed sites of proposed
84、drilling in the Taupo to Taupo North areas including proposed new access tracks and drilling areas.The survey found no areas of significance and approval was obtained from the traditional owners for future exploration.Figure 11:Heritage survey with Kakarra Native Title representatives and James Wils
85、on(Alchemy CEO)REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 17 of 84 Figure 12:Kakarra Heritage Survey Area and previous survey areas Challenger Prospect diamond drill program Diamond drilling at Challenger commenced in early September 202313 with assays received in October 2023.Mineralisati
86、on is hosted within a thick high-Fe quartz dolerite sill,which is a similar host rock to the mineralisation at Ramelius Bombora deposit.A significant Au-Bi-Mo-Te-W-Sb anomaly,which is considered the best pathfinder for gold mineralisation in the district,has been recognised from aircore drilling in
87、the area.The quartz dolerite target units were observed up to 104m thick downhole in CHDD002,and it was also observed where alteration and sulphide intensity increased with veining.Additionally,the major shear structure,“the Challenger Shear”,was intercepted and is traceable on magnetics over severa
88、l kilometres on geophysics.13 Refer to ALY ASX Announcement dated 5 September 2023 Challenger Diamond Drilling Commenced REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 18 of 84 The Challenger Shear structure was observed in CHDD002 but not in CHDD001,which suggests potential offsets or further
89、 structural complexity.Importantly the Challenger target zone is interpreted to be around 550m long where the quartz dolerite intercepts the Challenger Shear,which has led to numerous additional target areas to be generated shown in Figure 13.Assay results are shown below in Table 3.Follow-up drilli
90、ng is planned to target the areas along the Challenger Shear in 2024.Table 3:Challenger assay results10 Figure 13:Challenger Prospect location(LHS)and target areas and recent drilling(RHS)Hole IDFrom(m)To(m)Interval(m)Au g/tCHDD00114715030.62CHDD00211311850.43 incl.11611711.4CHDD002124.54126.652.110
91、.4CHDD00213113320.21CHDD00214214530.57 incl.14414511.42CHDD00215415620.32CHDD002160.31632.70.32 incl.160.3160.770.471.02CHDD002178.11845.90.18CHDD002196196.40.40.32 REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 19 of 84 LAKE REBECCA PROJECT(WA)(Alchemy 100%)The Lake Rebecca Project consists o
92、f 9 tenements covering 524km2 of tenure.The tenements are located to the south-east of the Northern Star Resources Ltds(ASX:NST)Carosue Dam operations,and along strike to the north of Ramelius Bombora gold deposit in the Eastern Goldfields,WA.The tenements cover prospective greenstones,granitic intr
93、usives,and known gold bearing structures within the Bombora-Carosue Dam region.Project wide soil sampling was completed during the year covering high priority targets at Lake Rebecca.The sampling was designed to provide completed coverage across the tenure to assess lithium and rare earth prospectiv
94、ity.Samples were initially analysed using pXRF,with chemical assay follow-up for zones considered to be anomalous.Results of the pXRF study have been largely inconsistent versus selected chemical assays,which the Company believes is due to the low level of lithium anomalism thresholds in the region
95、which makes the pXRF an unsuitable tool to use for lithium target vectoring.Follow-up work is planned in late 2024.LACHLAN FOLD BELT/COBAR BASIN PROJECTS(NSW)(Alchemy 80%)The Lachlan Projects cover an area of 674km2 of the Central Lachlan Orogen in New South Wales and comprise three project areas pr
96、ospective for Cobar-style epithermal gold and base metals and copper-gold porphyry mineralisation.The Lachlan/Cobar Basin Projects consist of the Overflow Gold-Base Metal Project,the Yellow Mountain Copper-Gold Project,the West Lynn Nickel-Cobalt-Alumina Project and the Eurow Copper-Gold Project,eac
97、h containing multiple drill ready gold and/or base metal and/or nickel-cobalt targets.The Projects form part of a farm-in and JV with Develop.In April 2024,the Company completed its Right to Negotiate Process with the Ngemba,Ngiyampaa,Wangaaypuwan and Wayilwan People(“NNWW”)over the West Lynn(EL8318
98、,EL8631)and Yellow Mountain(EL8356)Project areas.This involved execution of a Land Access Agreement which has been in process since 2020 and was completed in April 2024.Ministerial Approval was also required and was obtained subsequent to the end of the period in August 2024.The agreement paves the
99、way for access into the high-grade Yellow Mountain Project areas which has not seen modern exploration since the 1980s.Overflow Maiden Resource Estimate(“MRE”)The Company finalised a maiden 342koz AuEq MRE at 1.30g/t AuEq(Inferred,0.7g/t AuEq cut-off)on the Overflow deposit during the year14.The Ove
100、rflow Gold-Base Metal Project consists of four exploration licences located over a 50km long section of the Gilmore Suture at the intersection of the Lachlan Transverse Fault Zone within the well-endowed Cobar Basin(Figure 14).The project is highly prospective for epithermal,porphyry Cu-Au,and Cobar
101、-style Au and base-metal mineralisation.14 Refer to ALY ASX Announcement dated 20 October 2023 Maiden 342koz Mineral Resource at Overflow Project and NSW DIGS Open File Report(GS1979389)Aberfoyle Exploration for licence 774 and 816-Report dated December 1979 REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUN
102、E 2024 Page 20 of 84 At a 0.7g/t AuEq cut-off grade,Overflow contains 8.189Mt at 1.30g/t AuEq for 342koz AuEq as shown in Tables 4 and 5 below.Cut-off grade AuEq Tonnes AuEq ppm Au ppm Ag ppm Cu ppm Pb ppm Zn ppm 0.7 8,189,000 1.30 0.5 54.7 357 2,549 5,236 Note:Totals may not add due to rounding dif
103、ferences Table 4:Overflow Project Inferred Mineral Resource Estimate(0.7g/t Au cut-off)14 Cut-off grade AuEq g/t Tonnage AuEq g/t AuEq ounces Au g/t Ag g/t Cu ppm Pb ppm Zn ppm 0.5 9,955,000 1.17 374,500 0.5 46.9 364 2,408 4,976 0.7 8,189,000 1.30 342,300 0.5 54.7 357 2,549 5,236 0.8 7,504,000 1.35
104、325,700 0.5 57.7 350 2,604 5,332 1.0 5,669,000 1.49 271,600 0.6 60.4 378 2,911 5,882 1.5 1,425,000 2.29 104,900 1.5 34.2 694 5,269 10,184 2.0 688,000 2.95 65,300 2.1 23.6 759 6,686 12,888 2.5 422,000 3.40 46,100 2.4 25.7 766 7,987 15,367 3.0 253,000 3.85 31,300 2.7 28.6 820 9,623 18,337 Note:Totals
105、may not add due to rounding differences Table 5:Overflow Inferred MRE cut-off grade comparison REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 21 of 84 Figure 14:Overflow Inferred MRE location map and nearby operations There is substantial potential to expand the current JORC MRE through additi
106、onal drilling,as the deposit remains open along strike and at depth.Alchemys Overflow tenements cover prospective structures and host rocks which extend approximately 30km to the north and 40km to the south of the MRE,and remain poorly tested by modern exploration methods(Figure 13).Mineralisation i
107、s interpreted to be a multigenerational reactivated fault zone that has developed on a stratigraphic unconformity between the Babinda Volcanics and Ordovician Girilambone Group.The late cross structures are believed to reactivate mineralisation,upgrading the metal content.There are several cross str
108、uctures regionally that remain untested.“Regional Target 1”is a completely untested intersection between the Overflow Shear and an east-west structure.At“Regional Target 2”,multiple interpreted cross structures intersect both the Overflow Shear and the Overflow Splay.Results from drilling at“Regiona
109、l Target 2”conducted in 1978 by Aberfolye included 19m 0.33%Pb from 19m in BOBP2,and 0.28m 5.1%Cu from 106.51,and 0.7m 6.8%Cu and 1.2%Pb from 149.41m in BO1A4.REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 22 of 84 Figure 15:Overflow regional Exploration potential with target areas Ionick Meta
110、ls Ltd Option Transaction The Company announced an option agreement had been signed with Ionick Metals Ltd(“Ionick”)over its interest in two Exploration Licences at West Lynn(EL8318 and EL8631)which are located near Cobar,NSW(“Agreement”)15.The Agreement with Ionick provides a potential value accret
111、ive opportunity for shareholders of the Company,via the spin out of its non-core nickel-laterite and alumina assets into a separate vehicle,being Ionick,currently a wholly owned subsidiary company of Helix Resources Ltd(ASX:HLX,“Helix”).The West Lynn Ni-Co Agreement covers the nickel-cobalt rights o
112、n Exploration Licences EL8318 and EL8631 which are held in the Ochre Resources JV between Alchemy(80%)and subsidiaries of Develop(20%)(refer Figures 16 and 17).West Lynn is an advanced project located 10km west of Nyngan and 40km north of Ionicks nickel mineral rights.West Lynn has an Inferred MRE c
113、ontaining 21.3Mt 0.84%Nickel and 0.05%Cobalt(180kt of nickel and 11kt of contained cobalt)16.The project also contains an additional Alumina Resource of 6.6Mt 20.8%Al20317.15 Refer ALY ASX announcement 9 November 2023 West Lynn option agreement executed with Ionick Metals Ltd 16 Refer ALY ASX Announ
114、cement dated 19 February 2019 Maiden Mineral Resource Estimate West Lynn Project NSW 17 Refer ALY ASX Announcement dated 19 June 2019 Maiden Alumina Resource Estimate Summervale Project NSW REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 23 of 84 Under the Agreement,Ionick has the option to acq
115、uire 80%of the nickel-cobalt minerals(comprising nickel,cobalt,platinum group metals,scandium and aluminium)with Develop retaining its existing 20%interest.The Ochre JV retains 100%ownership of all the non-nickel-cobalt minerals14,18.Figure 16:Helix/Ionick and Alchemy Projects location18 18 Refer HL
116、X ASX announcement dated 9 November 2023 Ionick Metals Increases Ni Resources ahead of proposed IPO REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 24 of 84 Figure 17:Helix/Ionick and Alchemy Projects location18 BRYAH BASIN PROJECTS(WA)Gold Exploration(Alchemy 20%)Exploration of Alchemys teneme
117、nts that cover the gold prospective part of the Bryah Basin Project(Figures 18 and 19)continued under a farm-in and JV arrangement with Billabong(“Billabong Gold JV”),now a subsidiary of Catalyst.Billabong now has an interest in 18 tenements in the Three Rivers(“Bryah Basin JV”)Project.Under the ter
118、ms of the Billabong Gold JV,Alchemys interest is carried on an interest-free deferred basis to production,with Alchemy to repay the deferred amount from 50%of its share of free cash flow from production following the commencement of mining.No field work was completed during the year.REVIEW OF ACTIVI
119、TIES ANNUAL REPORT 30 JUNE 2024 Page 25 of 84 Base Metals Exploration(ALY 100%)In December 2023,Sandfire Resources Ltd(“Sandfire”)notified the Company of its intent to re-assign its 80%interest in the Bryah Joint Venture to Alchemy via its wholly owned subsidiary Alchemy Resources(Three Rivers)Pty L
120、td(“Three Rivers”)19.Alchemy worked with Sandfire on the transition of project management and data,with Alchemy taking full control of the project during the year.Alchemy resumes its position as a dominant holder of base and precious metals tenements in the Bryah region,hosting an extensive database
121、 with an estimated exploration spend of over$18m to date.Sandfires exit from the Bryah Basin JV tenements provides Alchemy and its shareholders with autonomy and flexibility to pursue ongoing exploration of its assets in the Bryah Basin.Figure 18:Alchemy(Three Rivers)Bryah project location Valley Bo
122、re Iron Ore(50%)Iron ore potential in the Robinson Range was first outlined in work by the GSWA in the 1970s which outlined the Valley Bore and Old Highway target areas.Work completed by Alchemy in 2008 and 2009 included detailed mapping and sampling of the outcrops at Valley Bore and Old Highway pr
123、ospects.In May 2024,Alchemy geologists conducted a reconnaissance mapping and sampling trip to Valley Bore prospect.Twenty(20)rock chip samples were collected from the banded iron formation(“BIF”)outcrops within the Valley Bore prospect on M52/844-I20.This area is dominated by two distinct northeast
124、 trending ridges comprised of BIF,banded chert,siltstone,haematitic shales,and massive hematite lenses(Figure 20).Alchemy retains the rights to 100%of the mineral rights for all minerals except iron ore through the Carey Mining Pty Ltd(“Carey Mining”)Iron Ore JV(Alchemy 50%,Carey Mining 50%),with Al
125、chemy having a Right of First Refusal over Carey Minings interest.19Refer to ALY ASX Announcement dated 29 January 2024 Alchemy to re-acquire Sandfire Bryah JV interest.20 Refer to ALY ASX Announcement dated 31 May 2024 Exceptional High Grade Iron Ore at Valley Bore REVIEW OF ACTIVITIES ANNUAL REPOR
126、T 30 JUNE 2024 Page 26 of 84 Figure 19:Alchemy(Three Rivers)Bryah Basin and Catalyst JV project location Northern Ridge Target:The northern ridge in the Valley Bore area is characterised by numerous banded iron and banded chert formations which outcrop for approximately 1.5km along strike.Hematite a
127、nd goethite rich units of BIF are observed.These lenses are between 5 and 15 metres thick and are interpreted to extend along strike to the southwest,with historic sampling of hematite outcrop returning grades up to 61.91%Fe(Figure 20 and 21)20.Southern Ridge Target:The southern ridge of the Valley
128、Bore area is dominated by laterally extensive hematite units,several BIFs and banded chert units.The massive hematite unit can be followed along strike for over 800 metres in strike and ranges from 10m to 100m wide(Figure 21).High grade rock chip assays were received,including up to 65.3%Fe in sampl
129、e VB005.This unit is interpreted to continue along strike with recent REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 27 of 84 mapping confirming hematite outcrop assays up to 60.2%Fe in sample VB001,approximately 750m to the southwest of Southern Ridge Target.20 Old Highway Target:The Old High
130、way target lies in the south-east corner of tenement E52/1582(Figure 20 and 23).The area is dominated by a long,northeast trending ridge consisting of inter-bedded siltstone,banded chert,and minor BIFs.Iron enrichment and hematite lenses are observed within the BIFs and on the eastern end of the rid
131、ge.High grade iron ore enrichment is related to hematite within a fold hinge on the eastern side of the prospect.Previous sampling returned grades within the high-grade hematite zone up to 64.09%Fe(Figure 23)20.Figure 20:Valley Bore and Old Highway prospect location REVIEW OF ACTIVITIES ANNUAL REPOR
132、T 30 JUNE 2024 Page 28 of 84 Figure 21:Valley Bore mapping,with recent and previous rock chip results(%Fe)20 Figure 22:Valley Bore mapping,Southern Ridge target showing hematite outcrops and rock chip assays(%Fe).ALY recent samples(large text),and historical ALY assays(small text)20 REVIEW OF ACTIVI
133、TIES ANNUAL REPORT 30 JUNE 2024 Page 29 of 84 Figure 23:Old Highway prospect mapping,showing hematite outcrops and historic rock chip assays(results in%Fe)20 Table 6:Valley Bore rock chip assays20 REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 30 of 84 Figure 24:Rock chip samples with assay re
134、sults from Valley Bore Southern Ridge target20 REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 31 of 84 Figure 25:Outcropping hematite from Southern Ridge target at Valley Bore REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 32 of 84 Figure 26:Outcropping hematite from Southern Ridge targe
135、t at Valley Bore REVIEW OF ACTIVITIES ANNUAL REPORT 30 JUNE 2024 Page 33 of 84 Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Mr James Wilson,who is the Chief Executive Officer of Alchemy Resources Limited and holds
136、shares and options in the Company.Mr Wilson is a Member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration,and to the activities undertaken,to qualify as a Competent Person as defined i
137、n the 2012 Edition of the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results,Mineral Resources and Ore Reserves(JORC Code 2012).Mr Wilson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.The
138、information in this report that relates to Mineral Resources at the West Lynn/Summervale Nickel-Cobalt and Summervale-Alumina Deposit is based on information compiled by Stephen Godfrey,who is an employee of Resource Evaluation Services Pty Ltd,a consultant to Alchemy Resources Limited.Mr Godfrey is
139、 a Fellow of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration,and to the activities undertaken,to qualify as a Compete
140、nt Person as defined in the 2012 Edition of the JORC Code 2012.Mr Godfrey consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.The information in this report that relates to Karonie Mineral Resources is based on information comp
141、iled by Richard Maddocks,a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy.Richard Maddocks is an employee of Auranmore Consulting.Richard Maddocks has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideratio
142、n and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results,Mineral Resources and Ore Reserves.Richard Maddocks consents to the inclusion in the report of the matters based on his information in
143、the form and context in which it appears.The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and,in the case of estimates of Mineral Resources and Ore Reserves,that all material assumptions and
144、 technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market anno
145、uncements.Forward Looking Statements This report may include forward looking statements.Forward looking statements are only predictions and are subject to risks,uncertainties and assumptions which are outside the control of Alchemy.Actual values,results or events may be materially different to those
146、 expressed or implied in this report.Given these uncertainties,recipients are cautioned not to place reliance on forward looking statements.Any forward looking statements in this presentation speak only at the date of issue of this presentation.Subject to any continuing obligations under any applica
147、ble law and the ASX Listing Rules,Alchemy does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation of any changes in events,conditions or circumstances on which any such forward looking statement is based.ANNUAL REPORT 30 JUN
148、E 2024 Page 34 of 84 DIRECTORS REPORT Your Directors present their report on the consolidated entity consisting of Alchemy Resources Limited(“the Company”)and its subsidiaries(“the Group”or“the Consolidated Entity”)at the end of the year ended 30 June 2024.DIRECTORS The following persons were direct
149、ors of Alchemy Resources Limited during the whole of the financial year and up to the date of this report unless noted otherwise:Lindsay Dudfield,Non-Executive Chair Liza Carpene,Non-Executive Director Anthony Ho,Non-Executive Director PRINCIPAL ACTIVITIES During the year,the principal activity of t
150、he Group was exploration for gold,lithium,base metals and cobalt.During the year,there was no change in the nature of this activity.FINANCIAL RESULTS The consolidated loss of the Group after providing for income tax for the year ended 30 June 2024 was$1,480,906(2023:$712,569).DIVIDENDS No dividends
151、have been paid or declared since the start of the financial year.No recommendation for the payment of a dividend has been made by the Directors.OPERATIONS AND FINANCIAL REVIEW Information on the operations of the Group and its prospects is set out in the“Review of Activities”section of this Annual R
152、eport.MATERIAL BUSINESS RISKS The Company operates in an environment where it is exposed to a range of business risks that have the potential to impact on the Companys business plans and strategy,and financial position.The Board and management make every effort to identify material risks.The Company
153、 aims to manage the exposure to these risks by carefully planning its activities and implementing risk control measures.Some of the risks are,however,highly unpredictable and the extent to which the Board can effectively manage them is limited.Tenure and access risk Applications While the Company do
154、es not anticipate there to be any issues with the grant of its tenement applications(see Tenement Schedule),there can be no assurance that the application(or any future applications)will be granted.While the Company considers the risk to be low,there can also be no assurance that when the relevant t
155、enement is granted,it will be granted in its entirety.Some of the tenement areas applied for may be excluded.DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 35 of 84 Renewal Mining and exploration tenements are subject to periodic renewal.The renewal of the term of granted tenements is subject to t
156、he discretion of the relevant authority.Renewal conditions may include increased expenditure and work commitments or compulsory relinquishment of areas of the tenements.The imposition of new conditions or the inability to meet those conditions may adversely affect the operations,financial position a
157、nd/or performance of the Company.Access A number of the tenements overlap certain third-party interests that may limit the Companys ability to conduct exploration and mining activities,including private land,Crown Reserves,areas on which native title is yet to be determined and other forms of tenure
158、 for railways,pipelines and similar third-party interests.Where the Companys projects overlap private land,exploration and mining activity on the projects may require authorisation or consent from the owners of that land.The Company may be required to enter into land access agreements and carry out
159、heritage clearance surveys before implementing its proposed exploration program.The Companys current proposed exploration program is not impacted by the known sites of registered aboriginal heritage significance.Exploration risk Potential investors should understand that mineral exploration and deve
160、lopment are high-risk undertakings.There can be no assurance that exploration of the Companys projects,or any other tenements that may be acquired in the future,will result in the discovery of an economic ore deposit.Even if an apparently viable deposit is identified,there is no guarantee that it ca
161、n be economically exploited.The success of the Company will also depend upon the Company having access to sufficient development capital,being able to maintain title to its projects and obtaining all required approvals for its activities.In the event that exploration programs prove to be unsuccessfu
162、l this could lead to a diminution in the value of the tenements,a reduction in the cash reserves of the Company and possible relinquishment of its projects.Climate change risk The operations and activities of the Company are subject to changes to local or international compliance regulations related
163、 to climate change mitigation efforts,specific taxation or penalties for carbon emissions or environmental damage and other possible restraints on industry that may further impact the Company.While the Company will endeavour to manage these risks and limit any consequential impacts,there can be no g
164、uarantee that the Company will not be impacted by these occurrences.Climate change may also cause certain physical and environmental risks that cannot be predicted by the Company,including events such as increased severity of weather patterns,incidence of extreme weather events and longer-term physi
165、cal risks such as shifting climate patterns.All these risks associated with climate change may significantly change the industry in which the Company operates.Reliance on key personnel risk The Companys future depends,in part,on its ability to attract and retain key personnel.It may not be able to h
166、ire and retain such personnel at compensation levels consistent with its existing compensation and salary structure.Its future also depends on the continued contributions of its key management and technical personnel,the loss of whose services would be difficult to replace.In addition,the inability
167、to continue to attract appropriately qualified personnel could have a material adverse effect on the Companys business.DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 36 of 84 Environmental risk The operations and proposed activities of the Company are subject to Australian laws and regulations con
168、cerning the environment.As with most exploration projects and mining operations,the Companys activities are expected to have an impact on the environment,particularly if advanced exploration or mine development proceeds.It is the Companys intention to conduct its activities to the highest standard o
169、f environmental obligation,including compliance with all environmental laws.The disposal of mining and process waste and mine water discharge are under constant legislative scrutiny and regulation.There is a risk that environmental laws and regulations become more onerous making the Companys operati
170、ons more expensive.Approvals are required for land clearing and for ground disturbing activities.Delays in obtaining such approvals can result in the delay to anticipated exploration programmes or mining activities.Native title risk The Native Title Act 1993 recognises and protects the rights and in
171、terests in Australia of Aboriginal and Torres Strait Islander people in land and waters,according to their traditional laws and customs.There is significant uncertainty associated with Native Title in Australia and this may impact on the Companys operations and future plans.The Company may be requir
172、ed to enter into land access agreements to undertake its proposed exploration program on the tenements and heritage clearance surveys before implementing its proposed exploration program.The Companys current proposed exploration program is not impacted by the known sites of registered aboriginal her
173、itage significance.Economic risk General economic conditions,introduction of tax reform,new legislation,movements in interest and inflation rates and currency exchange rates may have an adverse effect on the Company,as well as on its ability to fund its operations.Additional requirements for capital
174、 risk The Group has considered its ability to continue as a going concern for at least the next 12 months from the approval of these financial statements,taking into consideration an estimation of the expected cash flows based on the needs of the business.This assessment assumes the Group will be ab
175、le to realise assets and discharge liabilities in the ordinary course of business beyond this period.The Board does recognise that future capital requirements depend on numerous factors,with additional equity financing causing a dilution of shareholdings and debt financing,if available,potentially i
176、nvolving restrictions on financing and operating activities.If the Company is unable to obtain additional financing as needed,it may be required to reduce the scope of its operations.There is however no guarantee that the Company will be able to secure any additional funding or be able to secure fun
177、ding on terms favourable to the Company.FINANCIAL Exploration and evaluation costs totalling$1,065,267(2023:$305,660)were written off during the year in accordance with the Groups accounting policy.As at 30 June 2024,the Group had net assets of$13,251,211(2023:$14,621,911)including cash and cash equ
178、ivalents of$3,012,655(2023:$5,005,228).DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 37 of 84 SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS There were no significant changes in the state of affairs of the Group during the financial year.EVENTS SINCE THE END OF THE FINANCIAL YEAR As announced on 30
179、September 2024,Alchemy,via its wholly owned subsidiary Goldtribe Corporation Pty Ltd(“Goldtribe”),has entered into a farm-in and joint venture(“JV”)agreement with Japan Organization for Metals and Energy Security(“JOGMEC”).The JV covers sections of the Roe Hills target areas covering 248km2 of Alche
180、mys 694km2 Karonie Lithium and Gold Project.The areas are considered highly prospective for the discovery of lithium similar in style to the neighbouring Manna lithium deposit owned by GL1 located in the adjacent tenure to the east.Pursuant to the JV agreement,JOGMEC has the right to earn 51%interes
181、t by expending$6,000,000 by 31 March 2029 with a minimum expenditure commitment of$600,000 by 31 March 2025.Alchemy will manage exploration during the farm-in period.The farm-in and JV is subject to Australian Foreign Investment Review Board approval.Apart from the above,there has not arisen in the
182、interval between the end of the financial year and the date of this report any other item,transaction or event of a material and unusual nature likely,in the opinion of the Directors,to affect significantly the operations,the results of those operations,or the state of affairs of the Group in future
183、 financial years.LIKELY DEVELOPMENTS AND EXPECTED RESULTS OF OPERATIONS The Directors are not aware of any developments that might have a significant effect on the operations of the Group in subsequent financial years not already disclosed in this report.ENVIRONMENTAL REGULATION The Group is subject
184、 to significant environmental regulation in respect of its exploration activities.Tenements in Western Australia and New South Wales are granted subject to adherence to environmental conditions with strict controls on clearing,including a prohibition on the use of mechanised equipment or development
185、 without the approval of the relevant Government agencies,and with rehabilitation required on completion of exploration activities.These regulations are controlled by the Department of Mines,Industry Regulation and Safety(Western Australia)and the Department of Planning and Environment(New South Wal
186、es).Alchemy Resources Limited conducts its exploration activities in an environmentally sensitive manner and the Group is not aware of any breach of statutory conditions or obligations.Greenhouse gas and energy data reporting requirements The Directors have considered compliance with the National Gr
187、eenhouse and Energy Reporting Act 2007 which requires entities to report annual greenhouse gas emissions and energy use.The Directors have assessed that there are no current reporting requirements for the year ended 30 June 2024,however reporting requirements may change in the future.DIRECTORS REPOR
188、T ANNUAL REPORT 30 JUNE 2024 Page 38 of 84 INFORMATION ON DIRECTORS&MANAGEMENT The following information is current as at the date of this report.L Dudfield,Non-Executive Chair(appointed Director 25 November 2011,Chair since 1 June 2017)Experience and expertise Mr Dudfield is a qualified geologist w
189、ith over 40 years experience exploring for gold and base metals in Australia and abroad,including close involvement with a number of greenfields discoveries.He was a founding director of Jindalee Lithium Limited(ASX:JLL)and is currently Executive Director of JLL.Mr Dudfield is a member of the Austra
190、lasian Institute of Mining and Metallurgy,the Australian Institute of Geoscientists,the Geological Society of Australia and the Society of Economic Geologists.Other current directorships Executive Director of Jindalee Lithium Ltd(appointed 1996)Non-Executive Director of Energy Metals Ltd(ASX:EME)(ap
191、pointed 2004)Non-Executive Director of Dynamic Metals Ltd(ASX:DYM)(appointed 2022)Former directorships in last 3 years None Special responsibilities Member of the Audit Committee Interests in shares and options Ordinary Shares Alchemy Resources Limited Unlisted Options Alchemy Resources Limited 60,8
192、80,611 2,000,000 L Carpene,Non-Executive Director(appointed 18 March 2015)Experience and expertise Ms Carpene has worked in the resources industry for more than 20 years and has significant experience in acquisitions,corporate administration,HR,legal,IT and stakeholder relations.Ms Carpene spent fiv
193、e years on the Executive Team of Northern Star Resources Limited(ASX:NST)as Company Secretary and Head of Environment and Social Responsibility ceasing in February 2018.Prior to NST,Ms Carpene was Company Secretary/CFO for listed explorers Venturex Resources Limited and Newland Resources Limited,and
194、 previously held various site and Perth based management roles with Great Central Mines,Normandy Mining,Newmont Australia,Agincourt Resources and Oxiana.Other current directorships Non-Executive Director of RLF Agtech Ltd(ASX:RLF)(appointed 2021)Former directorships in last 3 years Non-Executive Dir
195、ector of Mincor Resources NL(appointed 2018)(resigned 2024)Special responsibilities Member of the Audit Committee Interests in shares and options Ordinary Shares Alchemy Resources Limited Unlisted Options Alchemy Resources Limited 2,916,666 2,000,000 A Ho,Non-Executive Director(appointed 25 November
196、 2011)Experience and expertise Mr Ho is a Chartered Accountant and a partner in a consulting firm focused principally on corporate and financial services to listed companies.He has significant experience in the resource industry,having served as director and company secretary of companies listed on
197、ASX.Other current directorships Non-Executive Director of Australian Agricultural Projects Ltd(ASX:AAP)(appointed 2003)Non-Executive Director of Mustera Property Group Ltd(ASX:MPX)(appointed 2014)Former directorships in last 3 years Executive Director of Newfield Resources Limited(ASX:NWF)(from 2011
198、 to 16 April 2021)Special responsibilities Chair of the Audit Committee Interests in shares and options Unlisted Options Alchemy Resources Limited 2,000,000 DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 39 of 84 CHIEF EXECUTIVE OFFICER Mr Wilson was appointed Chief Executive Officer on 1 January
199、2021.Mr Wilson is a geologist with more than 20 years hands on experience in exploration and operational roles,both in Australia and overseas,covering a wide range of resources including gold,copper,nickel and uranium.Mr Wilson spent the previous fourteen years working as a metals and mining analyst
200、,with the last five of those years as Senior Research Analyst Resources for Argonaut Securities.Mr Wilson has a Bachelor of Applied Science Geology and a Graduate Diploma in Financial Analysis and Valuation and is a Graduate of the Australian Institute of Company Directors.COMPANY SECRETARY Ms Terza
201、nidis is a Chartered Secretary,an Associate of the Governance Institute of Australia and holds a Bachelor of Commerce from Curtin University with majors in Accounting and Corporate&Resources Administration.Ms Terzanidis is Company Secretary of a number of ASX listed resources and services companies.
202、MEETINGS OF DIRECTORS The number of meetings of the Companys Board of Directors and of each Board committee held during the year ended 30 June 2024,and the numbers of meetings attended by each Director were:Director Board of Directors Audit Committee A B A B L Dudfield 7 7 2 2 L Carpene 7 7 2 2 A Ho
203、 7 7 2 2 A=Number of meetings attended B=Number of meetings held during the time the Director held office or was a member of the committee during the year REMUNERATION REPORT(AUDITED)The Directors present the Alchemy Resources Limited 2024 remuneration report,outlining key aspects of the Companys re
204、muneration policy and framework,and remuneration awarded this year.The report contains the following sections:a)Key management personnel covered in this report b)Remuneration governance and the use of remuneration consultants c)Executive remuneration policy and framework d)Relationship between remun
205、eration and the Groups performance e)Non-Executive Director remuneration policy f)Voting and comments made at the Companys 2023 Annual General Meeting g)Statutory Performance Indicators h)Details of remuneration i)Service agreements j)Details of share-based compensation and bonuses k)Equity instrume
206、nts held by key management personnel l)Loans to key management personnel m)Other transactions with key management personnel DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 40 of 84 a)Key management personnel covered in this report Alchemys key management personnel are defined as:Name Position L Dud
207、field Non-Executive Chair L Carpene Non-Executive Director A Ho Non-Executive Director J Wilson Chief Executive Officer b)Remuneration governance and the use of remuneration consultants The Company does not have a Remuneration Committee.Remuneration matters are handled by the full Board of the Compa
208、ny.In this respect the Board is responsible for:the over-arching executive remuneration framework;the operation of the incentive plans which apply to executive directors and senior executives(the Executive Team),including key performance indicators and performance hurdles;remuneration levels of exec
209、utives;and Non-Executive Director fees.The objective of the Board is to ensure that remuneration policies and structures are fair and competitive and aligned with the long-term interests of the Company.In addition,all matters of remuneration are handled in accordance with the Corporations Act 2001 r
210、equirements,especially with regard to related party transactions.That is,none of the Directors participate in any deliberations regarding their own remuneration or related issues.Independent external advice is sought from remuneration consultants when required,however no advice was sought during the
211、 year ended 30 June 2024.c)Executive remuneration policy and framework In determining executive remuneration,the Board aims to ensure that remuneration practices are:competitive and reasonable,enabling the Company to attract and retain key talent;aligned to the Companys strategic and business object
212、ives and the creation of shareholder value;transparent and easily understood;and acceptable to shareholders.All executives receive a salary or consulting fees,which is inclusive of superannuation,and from time to time,equity incentives.The Board reviews executive packages annually by reference to th
213、e executives performance and comparable information from industry sectors and other listed companies in similar industries.All remuneration paid to specified executives is valued at the cost to the Group and expensed.Options and Performance Rights are valued using a Black-Scholes option pricing mode
214、l and Monte Carlo simulations model.DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 41 of 84 d)Relationship between remuneration and the Groups performance Emoluments of Directors are set by reference to payments made by other companies of similar size and industry,and by reference to the skills an
215、d experience of Directors.Fees paid to Non-Executive Directors are not linked to the performance of the Group.This policy may change once the exploration phase is complete and the Group is generating revenue.At present the existing remuneration policy is not impacted by the Groups performance includ
216、ing earnings and changes in shareholder wealth(e.g.,changes in share price).The Board has set performance indicators,such as movements in the Companys share price,for the determination of the Chief Executive Officer emolument as the Board believes this may encourage performance which is in the long-
217、term interests of the Company and its shareholders.The Board has structured its remuneration arrangements in such a way it believes is in the best interests of building shareholder wealth in the longer term and that it is fit for purpose at this time.The Board believes participation in the Companys
218、Employee Securities Incentive Plan motivates key management and executives with the long-term interests of shareholders.Refer note 22 for more details.e)Non-Executive Director remuneration policy On appointment to the Board,all Non-Executive Directors enter into a service agreement with the Company
219、in the form of a letter of appointment.The letter summarises the Board policies and terms,including remuneration relevant to the office of the director.The Board policy is to remunerate Non-Executive Directors at commercial market rates for comparable companies for their time,commitment and responsi
220、bilities.Non-Executive Directors receive a Board fee but do not receive fees for chairing or participating on Board committees.Board members are allocated superannuation guarantee contributions as required by law,and do not receive any other retirement benefits.From time to time,some individuals may
221、 choose to sacrifice their salary or consulting fees to increase payments towards superannuation.The maximum annual aggregate Non-Executive Directors fee pool limit is$250,000 and was approved by shareholders at the Annual General Meeting held on 22 July 2008.Fees for Non-Executive Directors are not
222、 linked to the performance of the Group.Non-Executive Directors remuneration may also include an incentive portion consisting of options,subject to approval by shareholders.f)Statutory performance indicators The Board aims to align executive remuneration to Alchemys strategic and business objectives
223、 and the creation of shareholder wealth.The table below shows measures of the Groups financial performance over the last five years as required by the Corporations Act 2001.However,these are not necessarily consistent with the measures used in determining the variable amounts of remuneration to be a
224、warded to key management personnel.As a consequence,there may not always be a direct correlation between the statutory key performance measures and the variable remuneration awarded.DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 42 of 84 2024 2023 2022 2021 2020 Total comprehensive loss for the ye
225、ar($)1,480,906 712,569 806,117 524,830 390,897 Loss per share(cents)0.13 0.06 0.09 0.08 0.07 Share price at year end($)0.01 0.02 0.01 0.01 0.02 g)Voting and comments made at the Companys 2023 Annual General Meeting Alchemy Resources Limited received 98.86%of“yes”votes on its remuneration report for
226、the 2023 financial year.The Company did not receive any specific feedback at the Annual General Meeting or throughout the year on its remuneration practices.h)Details of remuneration The following table shows details of the remuneration received by the Groups key management personnel for the current
227、 and previous financial year.Short-term benefits Post-employment benefits Share-based payment Salary and fees Cash bonus Non-monetary benefit Super-annuation Options and Performance Rights Total Performance related 2024$%Directors and CEO L Dudfield 20,000-16,658 36,658 45.3 J Wilson 260,000-22,584
228、28,600 48,587 359,771 13.5 L Carpene 20,000-16,658 36,658 45.3 A Ho 20,000-16,658 36,658 45.3 Totals 320,000 -22,584 28,600 98,561 469,745 Short-term benefits Post-employment benefits Share-based payment Salary and fees Cash bonus Non-monetary benefit Super-annuation Options and Performance Rights T
229、otal Performance related 2023$%Directors and CEO L Dudfield 20,000-23,342 43,342 53.9 J Wilson 240,000-29,021 25,200 37,775 331,996 11.4 L Carpene 20,000-23,342 43,342 53.9 A Ho 20,000-23,342 43,342 53.9 Totals 300,000-29,021 25,200 107,801 462,022 DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 43
230、 of 84 i)Service agreements On appointment to the Board,all Directors enter into a service agreement with the Company in the form of a letter of appointment.The letter summarises the Board policies and terms of appointment,including remuneration relevant to the office of Director.Remuneration and ot
231、her terms of employment for other members of key management personnel are formalised in service agreements as summarised below.Mr J Wilson,Chief Executive Officer Mr Wilson is remunerated pursuant his Executive Services Agreement(Original Agreement)and a variation to the Original Agreement dated 14
232、November 2022(together CEO Agreement).The key terms of the CEO Agreement are:a)Remuneration package of$260,000 per annum plus statutory superannuation(capped at$28,600 per annum)on a full-time basis.b)Either party may terminate the CEO Agreement by providing the other party with three months written
233、 notice or payment in lieu of notice.c)7,000,000 unlisted sign-on options,issued with an exercise price that is 150%of the volume weighted average price of the Companys shares for the five trading days prior to the commencement date with an expiry date of 31 December 2023 exercise price is$0.0252.Th
234、e sign-on options will become exercisable(vest)twelve months after the commencement date and will otherwise be issued on terms and conditions in accordance with the Incentive Plan Rules(including that the sign-on options will lapse if the Executive ceases to be an Eligible Participant under the Ince
235、ntive Plan Rules).The sign-on options expired during the period.d)10,000,000 unlisted Performance Rights,issued in three tranches(20%,40%,40%)with vesting dependent upon the satisfaction of specific performance hurdles,including increasing the Companys share price and market capitalisation and outpe
236、rforming peer companies,with a three-year measurement period ending 31 December 2023.The Performance Rights will otherwise be issued on terms and conditions in accordance with the Incentive Plan Rules(including that the Performance Rights will lapse if the Executive ceases to be an Eligible Particip
237、ant under the Incentive Plan Rules).The Performance Rights expired during the period.j)Details of share-based compensation and bonuses Options Options over ordinary shares in Alchemy Resources Limited are granted under the Employee Securities Incentive Plan(“Plan”).Participation in the Plan and any
238、vesting criteria are at the Boards discretion and no individual has a contractual right to participate in the Plan or to receive any guaranteed benefits.Any options issued to Directors of the Company are subject to shareholder approval.The terms and conditions of each grant of options affecting remu
239、neration in the current or future reporting periods are set out below.DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 44 of 84 Number of options Exercise price Value per option at grant date Total Value$Director Grant date Vesting date Expiry date%Vested L Dudfield 29/11/2022 29/11/2023 23/12/2025
240、2,000,000$0.0405$0.02 40,000 100%L Carpene 29/11/2022 29/11/2023 23/12/2025 2,000,000$0.0405$0.02 40,000 100%A Ho 29/11/2022 29/11/2023 23/12/2025 2,000,000$0.0405$0.02 40,000 100%J Wilson 14/12/2023 29/12/2024 31/12/2026 4,000,000$0.025$0.004 16,000 0%J Wilson 14/12/2023 29/12/2024 31/12/2026 5,000
241、,000$0.040$0.004 20,000 0%J Wilson 14/12/2023 29/12/2024 31/12/2026 6,000,000$0.060$0.003 18,000 0%1 On 29 November 2022,6,000,000 unlisted options exercisable at$0.0405 were granted to the directors(2,000,000 each to L Dudfield,L Carpene and A Ho)as remuneration.The options became exercisable and v
242、ested twelve months after the issue date,being 29 November 2023.The fair value of options at grant date are determined using a Black-Scholes option pricing model that takes into account the exercise price($0.0405),the term of the option(3 years),the share price at grant date($0.027)and expected pric
243、e volatility of the underlying share(121%),the expected dividend yield(0%)and the risk-free interest rate(3.24%)for the term of the option.Performance Rights Performance rights in Alchemy Resources Limited were granted under the Plan.Participation in the Plan and any vesting criteria are at the Boar
244、ds discretion and no individual has a contractual right to participate in the Plan or to receive any guaranteed benefits.Any performance rights issued to Directors of the Company are subject to shareholder approval.The terms and conditions of each grant of performance rights affecting remuneration i
245、n the current or future reporting periods are set out below.On 1 January 2021,the Company granted 10,000,000 performance rights to Mr Wilson under the Incentive Option Plan(“the Plan”).The performance rights have a nil exercise price and were subject to the following vesting conditions:-Tranche 1:Up
246、 to 4,000,000 of the performance rights may have vested related to the Companys Market Capitalisation(“Capitalisation”)on 31 December 2023(“Measurement Date”)as follows:Where the Capitalisation was:greater than or equal to$50 million then 4,000,000 of the Tranche 1 Performance Rights would vest on t
247、he Measurement Date;or greater than or equal to$25 million but less than$50 million then 2,000,000 of the Tranche 1 Performance Rights would vest on the Measurement Date;or less than$25 million then no Tranche 1 Performance Rights would vest on the Measurement Date.-Tranche 2:Up to 4,000,000 of the
248、performance rights may have vested based on the relative performance of the Companys share price compared to that of the S&P/ASX Small Ordinaries Resources Index(AXSRD)over the period 1 January 2021 to 31 December 2023(“Measurement DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 45 of 84 Period”).T
249、he base measure for AXSRD and the Companys share price being closing prices as at 31 December 2020(being AXSRD 2,995.33 and ALY$0.018 respectively).Where the relative performance of the Companys share price to the AXSRD is:greater than or equal to 100%outperformance then 4,000,000 of the Tranche 2 P
250、erformance Rights would vest on the Measurement Date;or greater than or equal to 50%outperformance but less than 100%outperformance then 2,000,000 of the Tranche 2 Performance Rights would vest on the Measurement Date;or less than 50%outperformance then no Tranche 2 Performance Rights would vest on
251、the Measurement Date.-Tranche 3:Up to 2,000,000 of the performance rights would vest if the Companys share price was greater than or equal to$0.10 at the Measurement Date.The above performance rights continued to be expensed over the vesting period.Rights series Grant date Number of rights Measureme
252、nt Date for Vesting Expiry and vesting date Exercise price Value per right at grant date Total value%Vested 1 1 Jan 2021 4,000,000 31 Dec 2023 31 Dec 2023 Nil$0.0089$35,620 0%2 1 Jan 2021 4,000,000 31 Dec 2023 31 Dec 2023 Nil$0.0161$64,509 0%3 1 Jan 2021 2,000,000 31 Dec 2023 31 Dec 2023 Nil$0.0066$
253、13,196 0%The fair value of performance rights at grant date were independently determined using a Monte Carlo stimulation pricing model that takes into account the vesting conditions,the term of the performance rights,the share price at grant date and expected price volatility of the underlying shar
254、e,the expected dividend yield and the risk-free interest rate for the term of the performance right.None of the performance conditions for the tranches were met and the rights expired during the year.k)Equity instruments held by key management personnel The following tables detail the number of full
255、y paid ordinary shares,options over ordinary shares and performance rights in the Company that were held during the financial year by key management personnel of the Group,including their close family members and entities related to them.Options Opening balance Granted as remuneration Closing balanc
256、e Vested but not exercisable Vested and exercisable Max value yet to vest 2024 Expired Unvested Directors L Dudfield 2,000,000 -2,000,000-2,000,000-L Carpene 2,000,000 -2,000,000-2,000,000-A Ho 2,000,000 -2,000,000-2,000,000-CEO J Wilson 7,000,000 15,000,000(7,000,000)15,000,000-15,000,000 54,000 To
257、tal 13,000,000 15,000,000(7,000,000)21,000,000 -6,000,000 15,000,000 54,000 DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 46 of 84 Performance Rights Opening balance Granted as remuneration Expired Closing balance Vested but not exercisable Vested and exercisable Max value yet to vest 2024 Unvest
258、ed Directors L Dudfield-L Carpene-A Ho-CEO J Wilson 10,000,000-(10,000,000)-Total 10,000,000 -(10,000,000)-Shareholdings Opening balance On appointment Participation in placement or entitlement issue On market acquisition or disposal On resignation Closing balance 2024 Directors L Dudfield 60,880,61
259、1-60,880,611 L Carpene 2,916,666-2,916,666 A Ho -CEO J Wilson 6,655,399-2,000,000 -8,655,399 Total 70,452,676 -2,000,000 -72,452,676 l)Loans to key management personnel There were no loans to individuals or members of key management personnel during the financial year or the previous financial year.
260、m)Other transactions with key management personnel There were no other transactions with key management personnel during the financial year or the previous financial year.END OF REMUNERATION REPORT(AUDITED)DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 47 of 84 SHARES UNDER OPTION Unissued ordinar
261、y shares of the Company under option at the date of this report are as follows:Date options granted Expiry date Exercise price Number under option 8 November 2021 8 November 2024$0.025 1,000,000 8 November 2021 8 November 2024$0.035 1,000,000 20 June 2022 22 June 2025$0.034 2,000,000 21 June 2022 22
262、 June 2025$0.034 1,300,000 17 October 2022 17 October 2025$0.05 10,000,000 29 November 2022 23 December 2025$0.0405 6,000,000 14 December 2023 31 December 2026$0.025 9,000,000 14 December 2023 31 December 2026$0.04 5,000,000 14 December 2023 31 December 2026$0.06 6,000,000 41,300,000 No option holde
263、r has any right under the options to participate in any other share issue of the Company or any other entity.SHARES ISSUED ON THE EXERCISE OF OPTIONS No ordinary shares of the Company were issued during the year ended 30 June 2024 and up to the date of this report on the exercise of options granted.
264、CORPORATE GOVERNANCE STATEMENT The Companys 2024 Corporate Governance Statement has been released as a separate document and is located on the Companys website at http:/.au/corporate-governance.PROCEEDINGS ON BEHALF OF THE CONSOLIDATED ENTITY No person has applied to the Court under section 237 of t
265、he Corporations Act 2001 for leave to bring proceedings on behalf of the Group,or to intervene in any proceedings to which the Group is a party,for the purpose of taking responsibility on behalf of the Group for all or part of those proceedings.INDEMNIFICATION AND INSURANCE OF DIRECTORS AND OFFICERS
266、 During the financial year,the Company paid a premium to ensure the Directors and Officers of the consolidated entity against any liability incurred as a Director or Officer to the extent permitted by the Corporations Act 2001.The contract of insurance prohibits the disclosure of the nature of the l
267、iabilities covered or the amount of the premium paid.The Group has not entered into any agreement with its current auditors indemnifying them against claims by a third party arising from their position as auditor.NON-AUDIT SERVICES The Company may decide to employ the auditor on assignments addition
268、al to their statutory audit duties where the auditors expertise and experience with the Company and/or the Group are important.DIRECTORS REPORT ANNUAL REPORT 30 JUNE 2024 Page 48 of 84 Details of the amounts paid or payable to the auditor(BDO Audit Pty Ltd)for audit and non-audit services provided d
269、uring the year are set out in note 17.During the year ended 30 June 2024 no fees were paid or were payable for non-audit services provided by the auditor of the consolidated entity(2023:$Nil).ROUNDING OF AMOUNTS The company is of a kind referred to in Corporations Instrument 2016/191,issued by the A
270、ustralian Securities and Investments Commission,relating to rounding-off.Amounts in this report have been rounded off in accordance with that Corporations Instrument to the nearest dollar.AUDITORS INDEPENDENCE DECLARATION A copy of the auditors independence declaration as required under section 307C
271、 of the Corporations Act 2001 is set out on the following page.Signed in accordance with a resolution of the Directors.Lindsay Dudfield Chair Perth,30 September 2024 BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of BDO Austra
272、lia Ltd ABN 77 050 110 275,an Australian company limited by guarantee.BDO Audit Pty Ltd and BDO Australia Ltd are members of BDO International Ltd,a UK company limited by guarantee,and form part of the international BDO network of independent member firms.Liability limited by a scheme approved under
273、 Professional Standards Legislation.Level 9,Mia Yellagonga Tower 2 5 Spring Street Perth,WA 6000 PO Box 700 West Perth WA 6872 Australia Tel:+61 8 6382 4600 Fax:+61 8 6382 4601 .au DECLARATION OF INDEPENDENCE BY NEIL SMITH TO THE DIRECTORS OF ALCHEMY RESOURCES LIMITED As lead auditor of Alchemy Reso
274、urces Limited for the year ended 30 June 2024,I declare that,to the best of my knowledge and belief,there have been:1.No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit;and 2.No contraventions of any applicable code of professional conduc
275、t in relation to the audit.This declaration is in respect of Alchemy Resources Limited and the entities it controlled during the period.Neil Smith Director BDO Audit Pty Ltd Perth30 September 2024 ANNUAL REPORT 30 JUNE 2024 Page 50 of 84 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSI
276、VE INCOME FOR THE YEAR ENDED 30 JUNE 2024 Notes CONSOLIDATED 2024$2023$Continuing operations Other income 3 156,234 187,565 Exploration expenditure written off 9(1,065,267)(305,660)Employee expense 3(212,056)(270,538)Corporate expense (219,510)(227,880)Administration expense 3(140,307)(96,056)Loss f
277、rom continuing operations before income tax (1,480,906)(712,569)Income tax benefit 5 -Loss after income tax for the year attributable to the owners of Alchemy Resources Limited (1,480,906)(712,569)Other comprehensive income -Other comprehensive income for the year(net of tax)-Total comprehensive los
278、s for the year attributable to the owners of Alchemy Resources Limited (1,480,906)(712,569)Cents per share Cents per share Loss per share attributable to the owners of Alchemy Resources Limited Basic and diluted loss per share 16 0.13 0.06 This Consolidated Statement of Profit or Loss and Other Comp
279、rehensive Income should be read in conjunction with the accompanying notes.ANNUAL REPORT 30 JUNE 2024 Page 51 of 84 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2024 Notes CONSOLIDATED 2024$2023$ASSETS Current Assets Cash and cash equivalents 6 3,012,655 5,005,228 Trade and other recei
280、vables 7 23,766 79,540 Other current assets 8 59,106 43,026 Total Current Assets 3,095,527 5,127,794 Non-Current Assets Exploration and evaluation 9 10,394,886 9,845,999 Property,plant and equipment 485 1,432 Total Non-Current Assets 10,395,371 9,847,431 TOTAL ASSETS 13,490,898 14,975,225 LIABILITIE
281、S Current Liabilities Trade and other payables 11 118,041 267,078 Provisions 12 121,646 86,236 Total Current Liabilities 239,687 353,314 TOTAL LIABILITIES 239,687 353,314 NET ASSETS 13,251,211 14,621,911 EQUITY Contributed equity 13 43,417,654 43,417,654 Reserves 14 408,722 500,904 Accumulated losse
282、s 15(30,575,165)(29,296,647)TOTAL EQUITY 13,251,211 14,621,911 This Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes.ANNUAL REPORT 30 JUNE 2024 Page 52 of 84 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2024 ATTRIBUTABLE
283、 TO EQUITY HOLDERS OF THE ENTITY Contributed Equity$Option reserves$Accumulated losses$Total equity$At 1 July 2022 38,375,003 193,539(28,623,748)9,944,794 Loss for the year-(712,569)(712,569)Other comprehensive income-Total comprehensive loss for the year,net of tax-(712,569)(712,569)Transactions wi
284、th owners in their capacity as owners Issue of shares 5,500,000-5,500,000 Issue of options 100,066-100,066 Share issue costs (557,415)-(557,415)Options exercised and expired-(39,670)39,670-Options expense-309,259-309,259 Performance rights expense-37,776-37,776 At 30 June 2023 43,417,654 500,904(29,
285、296,647)14,621,911 At 1 July 2023 43,417,654 500,904(29,296,647)14,621,911 Loss for the year-(1,480,906)(1,480,906)Other comprehensive income-Total comprehensive loss for the year,net of tax-(1,480,906)(1,480,906)Transactions with owners in their capacity as owners Options expense-110,206-110,206 Op
286、tions expired-(202,388)202,388-At 30 June 2024 43,417,654 408,722(30,575,165)13,251,211 This Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes.ANNUAL REPORT 30 JUNE 2024 Page 53 of 84 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE
287、2024 Notes CONSOLIDATED 2024$2023$CASH FLOWS FROM OPERATING ACTIVITIES Payments to suppliers and employees (443,137)(296,566)Interest received 169,976 83,671 NET CASH FLOWS USED IN OPERATING ACTIVITIES 23(273,161)(212,895)CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property,plant and equipment
288、-(1,885)Payments for exploration assets (1,719,412)(2,010,725)NET CASH FLOWS USED IN INVESTING ACTIVITIES (1,719,412)(2,012,610)CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of shares 13 -5,500,000 Proceeds from exercise of options 13 -100,066 Share issue costs 13 -(377,415)NET CASH FLOWS
289、 FROM FINANCING ACTIVITIES -5,222,651 Net(decrease)/increase in cash and cash equivalents (1,992,573)2,997,146 Cash and cash equivalents at beginning of the year 5,005,228 2,008,082 CASH AND CASH EQUIVALENTS AT END OF THE YEAR 6 3,012,655 5,005,228 This Consolidated Statement of Cash Flows should be
290、 read in conjunction with the accompanying notes.ANNUAL REPORT 30 JUNE 2024 Page 54 of 84 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 NOTE 1:CORPORATE INFORMATION The consolidated financial report of Alchemy Resources Limited for the year ended 30 June 2024 was aut
291、horised for issue in accordance with a resolution of the Directors on 30 September 2024.Alchemy Resources Limited is a for-profit company incorporated in Australia and limited by shares which are publicly quoted on the Australian Securities Exchange.The nature of the operation and principal activiti
292、es of the consolidated entity are described in the attached Directors Report.The principal accounting policies adopted in the preparation of these consolidated financial statements are set out below and have been applied consistently to all periods presented in the consolidated financial statements
293、and by all entities in the consolidated entity.NOTE 2:MATERIAL ACCOUNTING POLICY INFORMATION These general-purpose financial statements have been prepared in accordance with Australian Accounting Standards,other authoritative pronouncements of the Australian Accounting Standards Board,Urgent Issues
294、Group Interpretations and the Corporations Act 2001.Compliance with IFRS The consolidated financial statements of Alchemy Resources Limited also comply with International Financial Reporting Standards(“IFRS”)as issued by the International Accounting Standards Board(“IASB”).New and amended accounting
295、 standards and interpretations adopted by the Group The accounting standards and interpretations relevant to the operations of the Group are consistent with those of the previous financial year.There are some amendments and interpretations effective for the first time from 1 July 2023,although they
296、did not have any material impact on the current period or any prior period and are not likely to materially affect future periods.A number of new standards,amendments to standards and interpretations issued by the AASB which are not yet mandatorily applicable to the Group have not been applied in pr
297、eparing these consolidated financial statements and none are expected to be relevant to the Group.The Group does not plan to adopt these standards early.a)Basis of measurement Historical Cost Convention These consolidated financial statements have been prepared under the historical cost convention,e
298、xcept where stated.Critical Accounting Estimates The preparation of consolidated financial statements requires the use of certain critical accounting estimates.It also requires management to exercise its judgement in the process of applying the Groups accounting policies.The areas involving a higher
299、 degree of judgement or complexity,or NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT 30 JUNE 2024 Page 55 of 84 areas where assumptions and estimates are significant to the consolidated financial statements,are disclosed where appropriate.b)Going Concern The financial statements have b
300、een prepared on a going concern basis,which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the normal course of business.The Group incurred a net loss of$1,480,906 for the year ended 30 June 2024 and had a net cash outflow f
301、rom operations including exploration expenditure totalling$1,992,572 for the period.Notwithstanding this,the financial statements have been prepared on a going concern basis which the Directors consider to be appropriate based upon the Companys ability to raise capital in the future to meet committe
302、d expenditure.The ability of the Company to continue as a going concern and meet all planned exploration commitments on all areas of interest in the 12 months period from the date of these financial statements,including commitments relating to exploration activity(refer Note 20),is dependent on the
303、Company being able to raise additional funds as required to meet these ongoing and budgeted exploration commitments and for working capital.These conditions indicate a material uncertainty that may cast significant doubt about the Companys ability to continue as a going concern and,therefore,it may
304、be unable to realise its assets and discharge its liabilities in the normal course of business.The Directors believe that they will be able to raise additional capital as required and are in the process of evaluating the Companys cash requirements.The Directors believe that the Company will continue
305、 as a going concern.As a result,the financial statements have been prepared on a going concern basis.Should the going concern basis not be appropriate,the entity may have to realise its assets and extinguish its liabilities other than in the ordinary course of business and at amounts different from
306、those stated in the financial statements.No allowance for such circumstances has been made in the financial statements.c)Principles of consolidation Subsidiaries The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of the Company as at 30 June 2024 and the
307、 results of all subsidiaries for the year then ended.The Company and its subsidiaries together are referred to in this financial report as the Group or the consolidated entity.Subsidiaries are all entities(including structured entities)over which the Group has control.The Group controls an entity wh
308、en the Group is exposed to,or has rights to,variable returns from its investment with the entity and has the ability to affect those returns through its power to direct the activities of the entity.The acquisition method of accounting is used to account for business combinations by the Group.Subsidi
309、aries are fully consolidated from the date on which control is transferred to the Group.They are de-consolidated from the date that control ceases.Intercompany transactions,balances and unrealised gains on transactions between Group companies are eliminated.Unrealised losses are also eliminated unle
310、ss the transaction provides NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT 30 JUNE 2024 Page 56 of 84 evidence of an impairment of the transferred asset.Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.No
311、n-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss and other comprehensive income,consolidated statement of financial position and the consolidated statement of changes in equity respectively.d)Critical accounting ju
312、dgements and key sources of estimation uncertainty The application of accounting policies requires the use of judgements,estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources.The estimates and associated assumptions are based on hi
313、storical experience and other factors that are considered to be relevant.Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis.Revisions are recognised in the period in which the estimate is revised if it affects only that period,or
314、in the period of the revision and future periods if the revision affects both current and future periods.e)Functional and presentation currency The consolidated financial statements are presented in Australian dollars,which is the Groups functional and presentation currency.f)Exploration and evaluat
315、ion Exploration and evaluation expenditure in relation to separate areas of interest for which rights of tenure are current is carried forward as an asset in the statement of financial position where it is expected that the expenditure will be recovered through the successful development and exploit
316、ation of an area of interest,or by its sale;or exploration activities are continuing in an area and activities have not reached a stage which permits a reasonable estimate of the existence or otherwise of economically recoverable reserves.Where a project or an area of interest has been abandoned,the
317、 expenditure incurred thereon is written off in the year in which the decision is made.g)Cash and cash equivalents Cash and cash equivalents includes cash on hand,deposits held at call with financial institutions,other short-term,highly liquid investments with original maturities of three months or
318、less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.For the statement of cash flows presentation purposes,cash and cash equivalents also includes bank overdrafts,which are shown within borrowings in current liabilities on the
319、statement of financial position.h)Issued capital Ordinary shares are classified as equity.Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction,net of tax,from the proceeds.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT 30 JUNE
320、 2024 Page 57 of 84 i)Rounding of amounts The company is of a kind referred to in Corporations Instrument 2016/191,issued by the Australian Securities and Investments Commission,relating to rounding-off.Amounts in this report have been rounded off in accordance with that Corporations Instrument to t
321、he nearest dollar.NOTE 3:REVENUE AND EXPENSES CONSOLIDATED 2024$2023$Income Interest income 148,017 102,411 Other income 8,217 85,154 Total income 156,234 187,565 Expenses Employee expense Employee benefit and director compensation expense 89,560 89,708 Expense of share-based payments(note 22)110,20
322、6 167,035 Other employee expenses 12,290 13,795 Total employee expense 212,056 270,538 Administration expense Depreciation 947 453 Occupancy and occupancy outgoings 15,000 40,066 Insurance 27,241 31,451 Other administration expenses 97,119 24,086 Total administration expense 140,307 96,056 Expenses
323、are recognised on an accruals basis.Interest income is recognised on a time proportion basis using the effective interest method.NOTE 4:SEGMENT INFORMATION Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker.The chief oper
324、ating decision maker,who is responsible for allocating resources and assessing performance of the operating segments,has been identified as the Board of Directors of Alchemy Resources Limited.The Group operates in one geographical segment,being Australia and in one operating category,being mineral e
325、xploration.Therefore,information reported to the chief operating decision maker(the Board of Alchemy Resources Limited)for the purposes of resource allocation and performance assessment is focused on mineral exploration within Australia.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT 30
326、 JUNE 2024 Page 58 of 84 NOTE 5:INCOME TAX A reconciliation of income tax expense/(benefit)applicable to accounting loss before income tax at the statutory income tax rate to income tax expense/(benefit)at the Companys effective income tax is as follows:CONSOLIDATED 2024$2023$Accounting loss from co
327、ntinuing operations before income tax(1,480,906)(712,569)At the statutory income tax rate of 30%(2023:25%)(444,272)(178,142)Add:-Non-deductible expenses 547 466-Capital raising costs(11,964)(9,970)-Other deductible expenses-(5,584)-Share-based payment 33,062 41,759-Tax loss not brought to account as
328、 a deferred tax asset 422,627 151,471 Income tax expense/(benefit)reported in the Consolidated Statement of Profit or Loss and Other Comprehensive Income-The income tax expense or benefit for the period is the tax payable on the current periods taxable income based on the applicable income tax rate,
329、adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period.Management periodically evaluates pos
330、itions taken in tax returns with respect to situations in which applicable tax regulations are subject to interpretation.It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT 30 JUNE
331、 2024 Page 59 of 84 Deferred income tax CONSOLIDATED 2024$2023$Recognised on the Consolidated Statement of Financial Position Deferred income tax at the end of the reporting period relates to the following:Deferred income tax liabilities -Capitalised expenditure deductible for tax purposes 3,026,440
332、 2,384,812-Prepayments 17,732 10,756-Property,plant and equipment 146 358-Trade and other receivables-2,342 3,044,318 2,398,268 Deferred income tax assets -Trade and other payables(11,052)(5,825)-Employee benefits(36,494)(21,559)-Capitalised expenditure non-deductible for tax purposes(19,759)(27,845
333、)-Tax losses available to offset DTL(2,977,013)(2,343,039)Net deferred tax asset/(liability)-Tax consolidation The Company and its 100%owned controlled entities have formed a tax consolidated group.The head entity of the tax consolidated group is Alchemy Resources Limited.Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that futur
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