Is a newly coined term in the online game, "Runescape", and is the act of cutting logs, then fletching the logs into unstrung bows, then casting the "High Level Alchemy" spell on them, to turn them into gold coins.
Often used on yew trees, as this is the best xp/hr overall on the stats.
This is also often used in "Runescape", as it grants you experience in the three stats, firstly- woodcutting, secondly- fletching, thirdly- magic.
Person 1 - What are you doing?
Person 2 - C-cut alch'ing
Person 1 - What's that?
Person 2 - Google it.