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Now with black handle - new photo coming soon.
I carry a similar mini shovel in my prospecting rig at all times. They're small enough and light enough to pack in (33" long and only 1 lbs 15 ounces), yet plenty big enough for panning, sluicing, running a small highbanker or rocker box and other smaller scale prospecting.
If you're going to dig all day, a bigger shovel will serve you better, but these are the ultimate sampling shovel, and it ain't mining without sampling. You can easily clamber along a rugged stream bank, up a steep feeder creek and over a falls, sampling as you go, then set up a small sluice for the day's production.
I also have a folding shovel, and frankly it just doesn't cut it. I carry a shorty shovel very similar to this one for most of my prospecting.