Expanding on Plough's post, I've recently bought NQM. Key points:
-Profitable ($2.2m for March 09 qtr)
-Cash flow positive
-No debt
-Australian operations, so minimal soverign risk
-Not heavily traded so a lot of investors are in for the long haul. Page 1 for NQM in hotcopper goes back almost a year with half the posts complaining how undervalued it is.
It even pays a dividend, which I doubt you'll find for any other gold stock sub $1.
Downsides include the comment re the small site (which they are addressing with their recent option purchase) and their slight hedging (almost all gone now).
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gold - best bang for buck stock under $1, page-3
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