Same as it is anywhere else, provided you are ML-enabled. All ROT does, IIRC, is make you take longer to gain because of the max gains per day limits (correct me if I'm wrong).
1. Have 100 mining
2. Get +3 or +5 mining gloves to go with the 100 mining, for recycling
3. Get a salvage bag, if you can buy them on SP
4. Make Royal circlets in the salvage bag, salvaging/recycling as necessary, all the way from 100 to 120, stopping when your ROT gains end for the day.
At 116 skill, you should be losing (After smelting) only about 120 ingots for every 100 circlets you make (and 100 of that is the 1 per circlet you'll always lose). On a regular ruleset shard, I got from 116 to 120 in less than 4000 ingots permanently consumed.