While I think gold is just at the beginning of a historic bull run — one which will usher in new all-time highs — I don’t want you to buy actual gold, asserts growth stock expert Ian Wyatt, editor of Million Dollar Portfolio.

There’s an even better growth play available when gold does well. And that’s gold mining. Let’s say it costs $10 to mine an ounce of gold, and that ounce of gold sells for $11. Great. You’re making a buck for every ten you spend as a miner — you can do that forever.

Now, let’s say the gold price increases to $12. That’s a nice 8% move — you’re pretty happy if you own gold. But if you’re a miner, your profit just went from $1 an ounce, to $2. That’s 100% profit.

There is more risk, yes. After all, gold will always be worth something, while a mining company can go bankrupt, see its value plummet to zero.

But that’s rare. And extremely hard to do when we’re in a bullish gold market. And when gold goes up, miners go up more. There’s a lot of reward available when you’re in a market like this one.

So what is my favorite mining play? Frankly, this gold market is so good, and I’m so bullish on it, that I could pick virtually any mining company and you’d be happy with the results.

But of course, I’m not going to do that. Instead, I want to introduce you to the best mining play — B2Gold Corp. (BTG), a Canadian mining company, headquartered in Vancouver, with mines around the world.

It has three mines currently active and producing gold — one each in the Philippines, Namibia, and Mali. There was some worry that Mali’s recent coup would interrupt mining, but it seems the new government is quite keen to keep the gold money flowing.

It is developing mines in Colombia and Burkina Faso, along with a number of smaller regional projects. Any one of those mines is a virtual license to print money. Or, in this case, dig it up.

To have three mines going at once — for a smaller company like B2Gold, with its relatively benign overhead — is exactly the sort of dominant positioning we like to see in our favorite companies.

Revenue has been growing substantially, while costs have been falling. Indeed, costs of extracting gold are so low for B2Gold, that the price of gold could get cut in half and B2Gold would still be profitable.

Luckily, the markets haven’t noticed this all-star yet. B2Gold boasts a 15.42 P/E ratio — an insane bargain in the gold mining sector, especially for a junior miner.

And it even throws in a dividend yielding almost 2.5% per year. Reinvest that dividend every year, and watch your stake grow in volume as well as value.

You can find safer stocks amongst the mining majors, or of course you can go with the safety of physical gold. But you’d be hard-pressed to find a miner as safe as B2Gold — with as much upside. I know, because I went looking and came up empty. That’s why I’m recommending we add B2Gold Corp. to our portfolio.

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