association with Ventures Limited. The option was exercised in July 1938 and a Canadian corporation, La Luz Mines Limited, was formed. The cost of purchase, equipment, and operation was in excess of $3,000,000; Tonopah's investment was $240,000 with 120,000 shares of stock or ten percent of the outstanding shares. Ventures Limited and its affiliate held the remainder of the stock. The chief executives of La Luz Mines Limited were also the chief executives and members of the board of directors of The Tonopah Mining Company of Nevada. Ventures Limited was a large stockholder of Tonopah; Thayer Lindsley held the position of president for both companies. At the La Luz Mines Limited property, active construction started in November 1938 on a cyanide mill, electric plant, machine and carpenter shops, limekiln and commissary, and river station. The mill began operations in August 1939, although no development work was done in the mine during the period. The mine was successful showing net profits in the mid and late 1940s. In 1952, The Tonopah Mining Company of Nevada sold 6,000 shares of La Luz Mines Limited stock reducing its amount of shares to 114,000. La Luz Mines Ltd. operated the gold mine continuously by underground and open pit methods until 1968. Production was only halted when a hurricane permanently damaged the mine's hydroelectric plant. During this period, an estimated 17 million short tons grading 0.12 oz/ton gold was produced. Nonetheless, due to the increase in the price of copper during the Vietnam War, and the discovery of the copper mine in Rosita, this company had the greatest overall earnings in Nicaragua in 1960s. In 1973, Rosario Mining Company bought the actions for $1,468,425 (USD). In 1978, sales exceeded $61,692 (USD). Mining in El Salvador NYHRMC operated an underground mine on the El Dorado property, 65 km east of San Salvador, from 1948 to 1953, producing approximately 270,000 tonnes of ore yielding about 72,500 troy ounces (2,250 kilograms) of gold at an average grade of 9.7 g/t from workings centered on the Minita vein system (one of a large number of gold-bearing veins and vein systems identified on the El Dorado project). Gold was recovered in a simple cyanide mill and recoveries in excess of 90% were achieved. References External links Photographs of El Rosario La Tigra National Park, Honduras Defunct mining companies of the United States Gold mines in Honduras Gold mines in Nicaragua