To go for growth or batten down to conserve spending is the strategic dilemma confronting the resources companies attending Mines and Money in Melbourne and the topic most widely discussed in the corridors. The companies are splitting off in either direction knowing that they are taking life and death decisions. Of course, turning points always occur when confidence has hit rock bottom. The balance of views being expressed by investors here is definitely bullish - the best buying in a decade has been a common sentiment - but this is a very biassed sample. The number of investors at Mines and Money is down on previous years. The most typical viewpoint about the sector is not really represented and even those that are expressing interest are still worried that whatever they buy could be cheaper before valuations eventually improve.