Gold Panning Economics
Gold Recovered/Day = (mg/yard x yards/day x recovery%) / 1000 grams
Value/Day = Grams x (Price per troy oz / 31.1035)
1 troy oz = 31.1035 grams
Breakeven = (Daily Cost x 1000) / (Yards x Recovery x Price/gram)
Estimate gold recovery, value per cubic yard, and determine if a placer deposit is worth working based on gold concentration and costs.
What would make it better?
Gold Recovered/Day = (mg/yard x yards/day x recovery%) / 1000 grams
Value/Day = Grams x (Price per troy oz / 31.1035)
1 troy oz = 31.1035 grams
Breakeven = (Daily Cost x 1000) / (Yards x Recovery x Price/gram)