Ruler of the mine - Help

Level 42 but my mine depth is pretty low - only 547 as I usually don’t mine and buy ores from the dealer or save the ores from the previous ruler of the mine to smelt.

How is it? How more should I save for the ruler of mine? I feel like picks and dynamite are enough. I’m aiming to increase my tnt by 40 in the next few days. Will that be enough? Or should I skip this ruler of mine event?

What are your thoughts?