The index rose as junior miners gained traction before the Diggers & Dealers event, offsetting a slight weekly decline.
The S&P/ASX Small Ordinaries Index climbed 1.4% to 3,314.60 on Friday, driven by a rebound in junior mining and exploration stocks. The gain followed a week of mixed performance, leaving the index 0.22% lower over five sessions.
Investor focus shifted to the upcoming Diggers & Dealers Mining Forum in Kalgoorlie, a key event for mining investment and deal-making. The forum, running August 3-5, attracts global miners, investors, and financiers, with over 159 exhibitors and 2,600 delegates expected.
Companies like FireFly Metals reported strong drilling results, further fueling interest in small-cap resources. The sector’s momentum reflects anticipation of funding and partnership opportunities at the event.