This upgrader upgrades the ore with 35% of its value, with an apply limit of 20. The effect limit of the item is $50k, with only upgrading ores with $8 or higher in value.
This upgrader should be used in early game content, until you get enough packs/persistent items to skip this upgrade. In Normal mode, you have to upgrade Drop Tack in order to get this. (from the primitive tack to the drop tack, and then to this item)