Role of alchemist in the novel?

The very powerful alchemist lives at the Al-Fayoum oasis in Egypt. Initially, Santiago hears about him through the Englishman, but eventually Santiago reveals himself to be the Alchemist's true disciple. The Alchemist dresses in all black and uses a falcon to hunt for game. The Alchemist is also in possession of the Elixir of Life and the Philosopher's Stone. He functions as a mentor/oracle figure who helps guide Santago on his journey.