Alchemy actually could be a synonym to the extending consciousness term. This is because only when you gain the power over energy or anything, the ability to transform it after you become conscious of this something follows. On the physical level, you transform parts of your body / related energies. On mental level, you transform your mind. On cosmic level, you extend your ability to be conscious + affect the cosmos on all its levels (which is typically attributed to gods). And so on. Without having the idea (your focus point / consciousness) of what should be the effect (as a symbolic "gold" in alchemy), you are unable to make this transformation.

Thus, consciousness always comes first, the alchemical endeavor follows.

As such, the universe is nothing but a great cauldron in which everything (energy) transforms into anything else - all the time. The existence in the universe is, after all, a game of transformation (changes). You transform everything, and thus in the end: you transform self on all levels - being aware of it or not. Becoming aware of it is part of the game - and it is another type of transformation (of your consciousness). If you ever wanted to be someone else, or play a certain role, which children tend to do very often, this is extending your consciousness to "try out" different views, and is much more important and essential to the consciounsess development than adults think. But it is a possible transformation on the lowest level.

On the conceptual level, when related to the Earth, it has been presented in I-Ching, which is considered by taoists to be an alchemical text.