All of this may be out of date, but here goes:
You buy ore from the auction house in stacks. In WOTLK it was Saronite, in Cataclysm it was Elementium. Basically the middle ore. Then you use Autohotkey to prospect it all whilst you view pronz or whatever.
http://stormspire.net/consortium-qu...kground-prospecting-milling-legitimately.html
Then you cut the rare gems in to cuts which sell well, with TSM you can queue up stock so you never have an uneven balance.
Uncommon gems turned in to jewellery. Blue quality jewellery woukd sometimes proc, these go on the auction house. Green jewellery gets disenchanted again using Autohotkey and the materials are used for scrolls wh8ch again go on the AH.
On top of that you teach TSM to look for good deals, loads of items get listed at silly cheap prices and they're great for reselling. Those Stranglethorn parrots (Hyacinth Macaw?) were great for this.
I've just seen on Reddit that there is no prospecting in WOD. Just another nail in wow's coffin then, I spent many a night just making gold and selling it.