  We discuss a projector Monte Carlo method for quantum spin models formulated
in the valence bond basis, using the S=1/2 Heisenberg antiferromagnet as an
example. Its singlet ground state can be projected out of an arbitrary basis
state as the trial state, but a more rapid convergence can be obtained using a
good variational state. As an alternative to first carrying out a time
consuming variational Monte Carlo calculation, we show that a very good trial
state can be generated in an iterative fashion in the course of the simulation
itself. We also show how the properties of the valence bond basis enable
calculations of quantities that are difficult to obtain with the standard basis
of Sz eigenstates. In particular, we discuss quantities involving
finite-momentum states in the triplet sector, such as the dispersion relation
and the spectral weight of the lowest triplet.
