Cash inflows to Australia's mineral and petroleum exploration sector surged by 51 per cent to a two-year high in the three months to September 30, marking an extraordinary turnaround from the doomsday scenario that was brewing earlier this year.

Data published by advisory firm BDO revealed that $2.02 billion was pumped into the ASX-listed exploration sector in the period, as low interest rates and surging gold prices tempted investors to pursue higher risk assets.