"Pink Slip" is the 11th episode of Season 3, and the 37th overall. It originally aired on January 18, 2012.
With only 6 weeks left of mining, Todd Hoffman finally runs the gold he has received from the new trommel. However, it delivers only 7oz of gold. After inspection, they discover that a spiral seal that pushed gold has become untangled, and gold leaked through and went into the tailings. Todd shuts down. Meanwhile, Dave Turin finishes his first cut, and gets 53.5oz and opens his second cut just in time. With invested Jason over, and short of the goal he set, he decides to stop funding the mine until Todd can decide on what to do, and Jason goes as far to suggest cutting people out of the mine.
At Porcupine Creek, "Dakota" Fred, Dustin, and Melody run into problems when the excavator and dozer both break down. Fred takes a loan and buys newer and more powerful machines. With the new equipment, they get 14oz of gold.
At the Big Nugget Mine, Parker Schnabel's washplant overfills with stones, nearly frying the motor. Then he discovers that Emmerson Trench has little to no gold at bedrock, making him think about what to do next.