CAPITAL MARKETS

Markets ease off highs, nickel loses shine

Investors take further shine to Aurania's evidence of lost gold city

Staff reporter

This article is 6 years old. Images might not display.

The economic outlook was boosted by Chinese manufacturing purchasing manager index data on Friday exceeding estimates, Bloomberg reported, and Black Friday hitting a record US$7.4 billion in US online sales.

The benchmark S&P/ASX200 was up in midday trade and metals and mining stocks were up 0.25%.

Gold equities were lower but producer Silver Lake Resources (ASX: SLR) was up 4.95% as it shores up its acquisition of Goldfields explorer EganStreet Resources.

In Toronto, Aurania Resources (TSX: ARU) jumped a further 11.3% on Friday following news it had found evidence of an old road on its Lost Cities-Cutucu project in Ecuador it believes leads to one of the country's lost gold production centres.

Metals and mining stocks had closed 0.45% higher on the S&P/TSX Composite Index.

Finally, nickel ended November down 2.4% and about 18% lower for the month, its biggest monthly drop since September 2011 on faltering steel output from China and the waning impact of an Indonesian ore export ban, according to wire service reports.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

Investor Sentiment Insights 2026

Discover what investors have planned for mining in 2026 in our industry-leading survey

editions

World Risk Insights 2025 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 120 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.