Gold Rush veteran Peter Schnabel talked about facing a huge fear of his during Season 14. In the ten years Peter has been mining the Canadian Yukon territory, he has never made such a big gamble. Keep reading to see what “fork in the road” Peter Schnabel had to face and what his ultimate decision was.
Peter Schnabel Faces A Huge Decision For His Team
Peter Schnabel has mined in the Canadian Yukon territory for over ten years. During that time, he has never faced as big of a gamble as he did during the Season 14 premiere of Gold Rush.
He spoke to People about the difficult decision he had to make and why it felt like a fork in the road. “We were at a real fork in the road in terms of taking on way bigger risks … spending a pile of money on new ground or downsizing,” Peter said during his interview with People. “We had this really big choice to make early on in the season, and those big decisions matter quite a bit.”
Image: YouTube/Discovery UK
In the last few moments of the season premiere, Peter had to decide whether or not to spend $15 million to obtain Dominion Creek. The land could potentially hold $160 million worth of gold.
However, Dominion Creek is also 40 feet underground. So, Peter will also have to spend millions to be able to unearth any of it. Despite what he stood to gain, the decision to spend $15 million was hard for him.
What’s Next On Gold Rush For Peter?
That kind of investment would put a lot of pressure on anyone. The Gold Rush star’s business has grown significantly over the years. Peter knows that his family and the families of his crew depend on the business and the decisions he makes.
“I probably would’ve rather lost money and kept the team as a whole than downsized, honestly,” Peter said, adding, “getting out of business entirely” would possibly be more appealing to him than downsizing at this point.
Image: YouTube/Discovery UK
Keeping everything going takes a lot of revenue. “We need a lot of ground, and we need a lot of ounces out of the ground to stay afloat, because we’re a big operation,” Peter told People. Breaking up the crew he has spent a decade building is his biggest fear at this point.
Only time will tell if purchasing Dominion Creek was the right move for Peter Schnabel and his crew. He said that they wouldn’t know if it was worth it from a profit standpoint for several more years.
Gold Rush airs on Friday at 8 p.m. EST on Discovery Channel. The entire series is also available to stream on Max.
What do you think about Peter’s decision? How do you think it will impact him throughout the rest of Season 14? Let us know what you think in the comments!
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