The mining companies have been very frugal with their capital in this boom unlike the past.
People are now starting to believe the earnings base for the mining companies has altered and the medium-term earnings prospects aren't going to deteriorate, if anything, they may continue to improve.
It has been very successful. We look for nice buildings in good locations. . . . We buy the buildings and put money into fixing them up.
With the major resource stocks, the fundamentals still look very attractive.
