Ponce de León prospered in this new role. He found a ready market for his farm produce and livestock at nearby Boca de Yuma. This was where Spanish ships stocked supplies before the long voyage back to Spain. In 1505 Ovando authorized Ponce de León to establish a new town in Higüey, which he named Salvaleón. In 1508 King Ferdinand authorized Ponce de León to conquer the remaining Tainos and exploit them in gold mining.