Alchemy is ultimatly more of a philosophical and spiritual exercise than a physical one. The physical transmutations of base metals into gold are a mirror of the purification and perfection of the alchemist's soul. It is a fascinating art, but somewhat impenetrable due to the Hermetic/Neo-Platonic roots, which tend to require a vast understanding of basic principles and symbology before you can actually *do* anything...
fr_CUI is correct, alchemy is on one hand the root of modern chemistry, but on the other the physical alchemical formula are symbolisms representing the processes of mental transmutation and spiritual purification of the operators conscious. The symbolic nature of this discipline is one which cannot be portrayed in a mundane nature, but instead should be pursued as a life long endeavor into the discovery of the nature of being.
The lesser work of alchemy is based in the physical and the greater circulation is that of understanding and changing the frequency of vibration of thought, and even greater the vibration of the energy which is your consciousness, or soul. there are various uses of the lesser alchemy which planetary aspects are made into fluid condensers and consumed to create a union of the operators constitution and the planetary aspect of the condenser being used.
beyond this one would have to endeavor to study this subject themselves and for a great amount of time to understand the nature of alchemy as it relates to the occult.
Alchemy is an extremly ancient art traced back to early egyption times. In fact Thoth the egyption god of wisdom is thought to be both the first alchemist and its creator. Hermes the greek messanger god and Thoth are often thought of as one and the same being. History aside Alchemy is not to be taken lightly. Alchemist believe that in order to chang the material they are working with they must also change themselves. If you want to really know more i would suggest getting your hands on the "Alchemists Kitchen" by Guy Oglivy.
Alchemy's main purpose was to turn lead into gold, by taking and adding ions and atoms, they reated the philophers stone in hopes of it help but the alchemismt got lead poisoning and the stone was made mostly of a highy corrosive aicd
alchemy as said before was originally meant to turnlead into gold and is essentially across between ritual magic on a somewhat microscopic level and chemistry i use it to make some of my electronics supplements and other things more magically compatible and by the way Homonculi are one of many ways to creat a magical helper and was a very old form of familiar which is somewhat like the mandragora or the living moving version of the magical mandrake root most often homunculi are made by buryin parts of animals and human reproductive fluids toether in the earth as a incubator under certain predicictions,
There is more than one type if alchemy. There is spiritual alchemy, which is converting you soul fro lead to gold and there is alchemy. This type is the transformation of base metals into gold or silver.