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I am now back in a rifter.
Sweet . I've lost 4 frigs so far :P. Decided to train up some things for a while and mine for a bit in 0.9. So i bought a badger and i'm doing like hour long mining runs since it takes forever to fill up 4,475.2m3. I was making about 25k ISK/run in my figate and it looks like i can make about 400k/run in the badger. It will cost me about 3 runs to pay off my ship/training industrials and my laser though.
Mining in an industrial is alright if you're a noob and you want a way to make some ISK while mostly AFK, or at least not paying attention to Eve.
However, don't get used to it. AFK mining has the following problems:
1) You can only really do it in 1.0 or .9 sec areas -- lower sec areas have NPC pirates that you'd have to fight/evade. Of course, 1.0 and .9 sec have ores that aren't worth that much.
2) Your industrial will only fit 1 mining laser, and thus is ultra mega slow compared to what even a properly fitted mining cruiser can yield. I can fit 5 miner IIs + 1 mining upgrade + 5 mining drones on my Vexor, for example.
What you can do, if you're planning to mine for awhile but you're not going to be actually AFK, is jet-can mine. Get into your frig and fit it with your mining stuff. Find a spot, start mining. When the first round of ore comes in, jettison it. A little can will pop up next to your ship.
You can open that jettisoned can, and continue dragging ore there from your cargo hold. Then when you're done, you can go dock and get your hauler to haul it back. Jet cans hold 27,500 m3, so you can do a lot with this method.
Notes:
1) Jet cans dissapear after 1 - 2 hours. Standard protocol is to name them, putting the time in. If you're mining for more than an hour, jettison a new can and move everything to that one.
2) You can encounter ore thieves, or pirates pretending to be ore thieves. If someone steals ore from your jet can, CONCORD will NOT fire on them. You will be able to, though. Of course, if you're new or a miner, then that's exactly what they're hoping you'll do, because then they can fire back.
This is also why you should be very careful never to take something out of another player's can or NPC wreck -- it gives them 15 minutes of open season on you.