How profitable is gold mining?

How profitable is gold mining?

To Start Your Own Gold Mine may be very profitable activity, just like any other. I am strongly suggesting to read the book Think and Grow Rich - Wikipedia as to first get the proper mindset for any business you wish to conduct.

When I refer to gold mining here, I speak of physical gold mining, the actual business of mining, and not investment into gold mining companies especially I am not referring to investment into stocks into publicly traded gold mining companies.

We are using 3 simple important factors and the EQV formula for gold mining production to estimate how profitable it may be or how profitable small scale gold mining currently is. The formula may be applicable to other ores and minerals.

Those important factors are Equipment, Quality and Volume.

Equipment - relates to the actual equipment engaged in the mining production and its capacity, as what volume of ores it may process daily, weekly, monthly.

Quality - relates to the quality of ores and the purity of gold, and continuance of ores

Volume - relates to the actually processed or in future processed volumes of ores.

The EQV formula is that increase of any of those factors are increasing the gold mining production. The EQV results with the gold mining production.

The expanded EQV formula is considering the operating expenses and other operating expenses and gives estimates about the income from mining.

Thus the profitability of the gold mining production depends of decreasing and having low expenses so that income may take place, by considering the increase and usage of equipment, good quality of ores and processing the possible volumes.

This is one true example of profitability on the small scale mining site as managed by Start Your Own Gold Mine and the investment of about US $66,000 to US $200,000 with or without excavator, just labor work in Tanzania.

Monday 2017-05-01 (GMT+3) 13:35:56 - Gold Price: US $1268.15

SYOGM - EQV Formula - Estimate

(E) - Equipment capacity: 5.00 tonnes per hour

(Q) - Quality of gold and ores: 6.00 grams per tonne, of 95% pure gold

(V) - Volume of ores to process: 50 tonnes per day in 10 working hours

EQV = Gold Production (idealistic estimate):

  1. Daily estimate: 285.00 grams per day or US $11,620, EUR 10,631, TZS 25,854,258
  2. Monthly estimate: 8,549 grams per month, or US $331,170, EUR 318,939, TZS 775,627,764
  3. Yearly estimate: 102,599 grams per year, or US $4,183,204, EUR 3,827,268, TZS 9,307,533,176

Expanded EQV formula, income without overall and full expenses:

Running expenses (not accurate) in US $984,279, EUR 900,530, TZS 2,190,000,000 per year

Income after expenses in US $3,198,925, EUR 2,926,738, TZS 7,117,533,176 per year

Sharing part for license holder: 40.00% and for BUSINESSMAN: 60.00%


Income for license holder in US $1,279,570, EUR 1,170,695, TZS 2,847,013,270

Monthly income, after expenses: US $106,630, EUR 97,557, TZS 237,251,105

Income for BUSINESSMAN in US $1,919,355, EUR 1,756,042, TZS 4,270,519,905

Monthly income, after expenses: US $159,946, EUR 146,336, TZS 355,876,658

For more information: Start Your Own Gold Mine


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