In March 2012, he mentioned in a conference I attended that he thinks silver has a great deal of upside potential, perhaps even more than gold.He's also reported to have said that silver producers and miners should stop selling all of their silver for cash and instead invest some of it in the physical metal. Some producers like Endeavor Silver ( EXK) have allegedly reported to their shareholders through news releases and on their website that they have begun to do just that. Another way to invest the Eric Sprott and John Embry way is through shares of Sprott Resource (SCPZF). As they state on their website, Sprott Resources invests and operates through their subsidiaries in the natural resource sector: "We currently have investments and operations in oil and gas, agriculture and agricultural nutrients as well as a large position in physical gold bullion. We take an active involvement in the companies in which we invest. "We are dedicated to generating consistently superior returns on capital for our shareholders, while focusing on risk management and real wealth preservation." Sprott Resource declared a 3 cent first-quarter 2012 dividend, which on an annualized basis at the current price of around $3.92 a share yields over 3%. For the more speculative investor who's willing to take higher risk for a potentially higher reward, take a look at two companies that Sprott or a subsidiary has invested in. Guide Exploration (GO.TO), a small oil and natural gas exploration and production company, is one of those. In the U.S., the stock trades over the counter with the symbol GLNYF. One of Sprott's subsidiaries, Global Resource Investments of California owns nearly 32% (either directly or indirectly) of another small energy company, Canadian Phoenix Resources. Canadian Phoenix, which trades on the Vancouver exchange under the symbol CXP.V, is a junior oil and gas exploration, development and production company. It has no debt, $79.36 million in total cash (most recent quarter). Click here for Canadian Phoenix's first-quarter results. Remember, it is highly speculative, but it has the feel of a "ground-floor" opportunity. The symbol for Canadian Phoenix in the U.S. is CANXF. Both Eric Sprott and John Embry became wealthy by taking calculated risks and investing in themselves and their own businesses. If nothing else, they are an interesting source of ideas, investment information and commentary on the natural resources sector. Keep their names on your list of the great investors of the Western world. Their track record isn't perfect, but their personal net worth speaks of outstanding investment prowess. At the time of publication, Marc Courtenay was long SCPZF, EXK, GLNYF, and CANXF.