"Australia's super commodity boom continues to roll on and there...

"Australia's super commodity boom continues to roll on and there is no end in sight in the near term," said Savanth Sebastian, equities economist with Commonwealth Securities.

"Resource stocks are well-placed to see continuing strong gains."

Mr Sebastian was particularly optimistic about copper.

"There are only two days' global consumption of copper on the London Metals Exchange," he said. "Since January, global stockpiles have dropped by 40 per cent.

"There is tight supply, there are no new mines coming on stream and there is a strike at the world's largest copper producing mine in Chile."

Russell McKimm, from Tollhurst Ltd, said the difficulty of raising money meant investors needed to pay close attention to mining companies' cash flow.

"If you are looking at small- to medium-sized companies you should make sure they have a solid base that will give them the funds needed for exploration and expansion," he said.

"At the speculative end of the market, its very high risk unless you know something really special about the stock."

Michael Heffernan, from Austock Securities, said investors looking to cash in on the mining boom should look beyond the mining companies.

"I'm very optimistic about mining services companies, such as Leighton Holdings, United Group and Worley Parsons," he said.

Martin Petty, head of research at Bell Potter Securities, was also expecting mining services to do well.

"The industry expectation is that capital expenditure will grow to $16.9 billion in the current half year, up from $11.6 billion a year earlier," he said. "And the expectation for financial year 09 is for capital expenditure to sit above $30 billion."

On Wednesday, the Australian dollar hit a 24-year high of 95 cents against the US dollar. But some analysts predict a Greenback recovery later this year, meaning good opportunities exist to buy American equities.