GDXJ - Market Vectors Junior Gold Miners Index Message Board

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Gold/Mining/Energy : GDXJ - Market Vectors Junior Gold Miners Index

GDXJ 93.63

-1.4%

Oct 31 4:00 PM EDT

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To: Roads End who wrote (102)	11/13/2009 1:27:08 PM
From: carranza2	Read Replies (2) of 196

Cerro San Pedro is a fairly important historical place as the finding of gold there by the Spaniards was a big reason why the city of San Luis Potosi was founded. It lies about 10-15 miles away, and is a major city. The "Potosi" in the name refers to the Potosi in Peru [edit: Bolivia], which is of course the biggest silver mine ever. An aside that probably belongs in the 'useless knowledge' category: the Potosi mint mark (the letters "PTSI" superimposed on one another) is said to be the origin of the dollar sign. en.wikipedia.org The village of Cerro San Pedro is a ghost town now, ever since mining operations were abandoned by ASARCO in 1948 after a strike. Before leaving, the tunnels and shafts were collapsed, which is no doubt the reason why the present mine is an open pit operation. Some pics here, click on the church. lugaresdemexico.com In addition to the historical issues, there is another significant environmental issue: the mine sits over some aquifers which provide water to the main city of San Luis Potosi. The potential for contamination is of course important, and I cannot yet tell how it was dealt with.

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