I like the little junior stocks. Give me the junior stock that has the most rock per share and I'll buy it if management's got discipline not to keep doing financings. And guess what? They're the ones are taken over by bigger mining companies. The rock per share, reserves per share drives the net present value of the deposit along with the price of the commodity, but it's value on a per-share basis that matters.
http://www.kitco.com/ind/GoldReport/feb042010.html