I have done some maths and found out how big the overhead cost for large scale placer mining is. The initial investment for buying the equipment is huge, then you have fuel cost, and greedy employees to pay, as well as food! At the end of it a yearly personal wage is only $90,000 or something modest.
Then I thought, a small scale miner using hand tools, and small power equipment could make a lot more. Even if it was a joint venture and it was drawn up as 50% profit to each member, the potential to become a millionaire is just off the map. They upkeep is almost not even $10 per day, you can have a coffee whenever you feel like it without your annoying employer yelling. You are annoyed less by environment government agencies. And you are digging in higher pay dirt since you a also sniping it, instead of spay and pray as do the larger boys do with their huge machinery that costs over $200 per hour on just a machine of fuel!
Then I thought, a small scale miner using hand tools, and small power equipment could make a lot more. Even if it was a joint venture and it was drawn up as 50% profit to each member, the potential to become a millionaire is just off the map. They upkeep is almost not even $10 per day, you can have a coffee whenever you feel like it without your annoying employer yelling. You are annoyed less by environment government agencies. And you are digging in higher pay dirt since you a also sniping it, instead of spay and pray as do the larger boys do with their huge machinery that costs over $200 per hour on just a machine of fuel!
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