What: Shares of Great Basin Gold (AMEX: GBG) popped 11.1% in intraday trading on no apparent recent news.

So what: Shares of this small gold mining company surged today, but investors should bear in mind that it doesn't take much, since the stock trades at $2 and change. One week ago, it reported some bullish news about some of its mining operations as well as a sequential increase in fourth-quarter gold sales.

Now what: Here lately, any mention of gold has thrilled investors more often than not, so it's not surprising many would be interested in small mining stocks. Furthermore, gold bulls still tout the precious metals as the Federal Reserve continues to pump liquidity into the market, raising concerns about inflation and even more interest in precious metals. Still, investors should be wary and choose their gold investments carefully; whether small miners like Great Basin Gold are the best bets is worth a deep dig into the industry.

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Alyce Lomax does not own shares of Great Basin Gold. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.