If it’s not in production, then we look at what they are trading at on a per market cap of reserves for resources and what the expansion potential is. We try to estimate if the cost needed to put that mine into production meets our value screen and then we’ll make a decision to pursue from there.

Q:  Do you invest in global companies?

A: Yes, we do. The Canadians have a long history in the resource business along with the Australians so you’ll see predominately more Canadian companies in our portfolio. Those are the most active companies as one of the biggest resource markets is up out of Canada, especially in terms of financing companies.

For example, MAG Silver was a company that was exploring a property down in Mexico. We spoke with the management and we saw the property. They have a joint venture with a Mexican company called