To grow a mining company today is seen to be challenged by the reduced interest in resources companies by the financial markets, the complexity of native title and a somewhat depressed commodity cycle. However, the opportunity to grow production and sales in a mining company are as numerous as they have ever been. It is the challenge of growing significant shareholder value that is difficult. The distinction between growth in company size' and growth in shareholder value' is an important distinction upon which some resource companies are now firmly focussed. The equity market/commodity market cycle can provide windows of opportunity to consolidate and expand a company for the benefit of shareholders. These benefits may not be reflected until more buoyant equity markets return but, as the cycle turns, as it surely will, those with the foresight to position themselves may be richly rewarded.