The company has a reasonable amount of debt ($120 million) and in its most recent quarter it reported total cash of over $320 million. Its $363 million operating cash flow (trailing 12-month) and over $87 million of levered free-cash flow will allow it to grow organically and easily meet production costs.

If you have the chance to buy shares of EGO below $12 a share you'll have an even better chance of catching a nice gain if the stock makes an anticipated move upward along with the price of gold by the end of the year.

The one silver play that looks most promising to me is First Majestic Silver ( AG). This well-funded producer is selling at less than 11 times forward earnings with a 52% operating margin (on a trailing 12-month basis).

AG is committed to building a senior silver-producing mining company based on an aggressive development and acquisition plan with a focus on Mexico.

The company presently owns and operates four producing silver mines in Mexico and production from these four mines is anticipated to be between 9.2 to 9.5 million ounces of silver equivalents or 8.4 to 8.7 million ounces of pure silver in 2012.

Take a look at its exciting Web site and you'll convince yourself of the potential of this well-run, profitable silver miner.

If you have a chance to buy below $1 a share, that should allow you to begin accumulating shares more comfortably. Speaking of comfort, you won't have as much upside potential but you won't experience as much downside risk if you buy the ETFs I mentioned earlier; GDX and SIL. May your results shine brightly.

As of the time of publication the author had positions in all of the companies and ETFs mentioned except SIL.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Jim Cramer and Stephanie Link actively manage a real money portfolio for his charitable trust- enjoy advance notice of every trade, full access to the portfolio, and deep coverage of the latest economic events and market movements.

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