To go pro or stay a hobbyist?

[ProspectorRoy]

Hi all, pretty new here and read some really interesting posts especially Nugget's guide on gold areas, terminology etc. I was interested to hear from long-term miners whether you felt you could get a living wage out of your passion or whether most just prospect for fun? I only ask as I've seen a paying claim for sale and just too chicken to make up my mind. I'm not afraid of work just taking the step. It's 8 - 12 g day with hand tools and an ounce or so with machinery 10 year permit.

 

[Smoky bandit]

Wow that's good return.
I would do my calculations on much less than that.
At least then you won't be disappointed

 

[ctxkid]

why are they selling it then ??

 

[ProspectorRoy]

I agree, I've become a bit of a pessimist after years of getting burned. It's in a good area for sure. A few grams a day and I'm sold but less and it's not worth it. Seller would let me prospect for a week with hand tools at least I'd know it wasn't a salted claim. I may actually prospect a week and look upstream, no permit there.. if any good may register a new one for a lot less.

 

[ProspectorRoy]

why are they selling it then ??

I asked that.. 50% owner moved away, can't do by themselves etc.. I am suspicious as it's newly registered. Some people do make better money finding claims and selling them than mining them, I bought one in Canada that was good. I'd negotiate to prospect for a week with hand tools to verify findings I think.

 

[madtuna]

Do at least a 5 year apprenticeship as a hobbiest before considering going fulltime

 

[savage bitter]

every claim my family has got you go and do test holes and if they don't want you to do that leave there is only one good reason to sell your claim and that is the numbers are going down or gone

 

[Keitzy]

Nearly a half ounce a day with hand tools and only an ounce using machinery.... labour time doesnt really add up there. Should be able to quadruple productivity using machinery.

 

[mudgee hunter]

Some can do it and love it, little gold or lots.
Forget the gold for a moment...... can you survive alone, cashed up to kick off, , fix a real break down on your vehicle alone. Basically be a hermit that is independent! A little bit neurotic!
If you cant be the above......
Keep it as a hobbie !