"Usually investing in mining companies means having to choose between a junior company that is working to get a mine up and running, and a more stable, mature miner that is already in production," say Ian Wyatt and Tony Martin in Small Cap Investor.

They continue, "But then there's Northern Orion Resources Inc. (ASE: NTO), which allows you to put money into both types of play with one stock."

With a junior miner, they admit, you get more risk, at least until the final permit is received, the mining plan finalized, equipment in place, and ore being processed.

Of course, they counter, that can often mean greater leverage to metal prices. With the mature miner, they explain, ou know what you're getting in terms of output from the mine, but that typically limits any blue-sky financial upside for investors.

Northern Orion, they explain, has a 12.5% ownership position in the Alumbrera project, with Goldcorp (NYSE: GG) having a 37.5% position, and London's Xstrata PLC the remaining 50%. Located some 700 miles northwest of Buenos Aires, they point out, Alumbrera is a massive mine, with the project covering almost 13,000 acres.