I have been away working for the last few weeks and replying to this on an iPhone just wouldn't cut it.
I do appreciate Kevin's video's, they are well done and accurate. If Kevin is able to profit from the meager $ that You-Tube hits pay or You-Tube sponsorship, then good for him. I judge Kevin's video's by their content, which is accurate and easy to follow. I don't believe in counting other people's money, that can only lead to bad conclusions and eventually sticking your own foot in your mouth.
But the bottom line with this video is concentration of values. Karat scrap is essentially a concentrate and concentrates are less costly to upgrade than lower grade e-scrap. Think about it, jewelry is "graded" by karat. Which is essentially a gold concentration in percentage. Plumb 10 karat is 41,66%, plumb 14 karat is 58.33% and plumb 18 karat is 75%. Percentage is another word for parts per 100. E-scrap is generally graded as parts per MILLION! A ton of e-scrap boards can run anywhere from 100 to 700 PPM. A part per million is one gram per metric ton. For a backyard refiner the difference in chemical consumption alone can be exponential. Picture the chemistry required to wet a metric ton of material to generate between (100/31.103=3.215) 3.215 ounces and (700/31.103=22.5) 22.5 ounces of gold. With karat gold the same quantities of gold can be refined in 1 to 6 liters of acid. And that difference, in a nutshell, is why karat is the go to scrap that all refiners dream about.
But Kevin's other point, about buying the scrap for the right price, is something that must be considered a little more. Everybody, from the guy who pays for boards based on copper weight to the big smelter wants to get the best deal possible on their incoming feed. That is just human nature. The difference between e-scrap and karat scrap is it is much easier to quantify how much yield is expected in karat than in e-scrap. Even the semi refining that Kevin does by inquartation and parting gives him a good handle on the gold content by increasing the purity and eliminating the wiggle room that his buyer has. And the wiggle room is where the profits are made. On karat, there is a little wiggle room. In Kevin's example it is between .992 and .997 XRF reading of the purity of the bar he produces. But on e-scrap the wiggle room is huge. More like backflip room! That is why for years I incinerated boards and melted the copper based bullion into assayable bars before shipment. The key to profit in refining is in knowing what you have to ship as well as getting it for the right price.
So the bottom line is if you are set up to do it properly, you can make money with e-scrap. But if you are a small refining operation who always has to keep an eye on chemical consumption and waste volume, karat scrap is the way to go. But as Kevin pointed out, it also helps to have a skilled buyer keeping your refinery filled with work.