Mary Shelley’s classic novel about Dr Frankenstein and his monster sprang to mind in recent weeks as data from the US revealed signs of life in the economy. And there’s more to come.

Another regulation quarter for BHP with record iron ore production, recovering copper production, incremental contribution from new US assets and more projects added to the “to do” list. BHP’s arsenal of world class resource projects is impressive and it has the firepower to execute on all of them. Chinese economic growth appears unlikely to falter providing confidence in the outlook for BHP.

McDonald’s reported this week that it had closed out 2011 in style, with strong fourth quarter and full year numbers. The wind has also been in the sail of McDonald’s stock price since we recommended it as a buy in March 2010 (FAT-USA-208) rising from $66.40 to above the $99 mark as we go to print and defying a global slowdown.

Delving too closely into the short term undulations of the quarterly production reports can risk missing the big picture. In the case of Newcrest Mining, the thesis is one of high quality existing assets with expansion plans underway, with the added spice of new exploration and developments beyond the 4 million ounce target in five years. This stock is cheap.

Iron ore and copper continue to dominate the headlines for Rio Tinto. Full year production of iron ore from the Pilbara region achieved yet another record keeping the company on track with its multi-year major expansion of the key steelmaking raw material. The portfolio is in transition as aluminium assets are adjusted and fresh acquisitions slip into the mix, but Rio’s attraction as a diverse resource play is undiminished. The under-geared balance sheet provides enormous flexibility for capital management or further acquisitions.