Paulson Sells Trilogy Stake, Focuses on Donlin

0:00This is Anchorage News today, every story, every city, every day. Billionaire investor John Paulson recently sold his nearly 9% stake in Trilogy Metals, a Vancouver-based mining company focused on Alaska. Projects He offloaded more than 14 million shares between October 1st and December 31st, cashing out after the stock price more than doubled. This came right after the Trump administration approved the controversial Ambla Road and committed $35 million for a 10% stake in the company. Paulson had paid $800 million last year for a 40% share in the massive Donlin Gold Project in Western Alaska, which he's. Now pushing hard alongside other billionaire investor, Thomas Kaplan. Trilogy's windfall was tied to the Ambla Road, a key haul route seen as vital for the company's plans and partnership with an Australian firm. Experts like Ian Lang from the Colorado School of Mines say investors sell for all sorts of reasons, and it might just mean Paulson wants to zero in.

1:01On bigger bets like Donlin or his Gold and Antimony Project in Idaho, Trilogy's other shareholders, including Alaska Native leader Willie Hensley, reported gains in the hundreds of thousands following the news. Paulson and Trilogy spokespeople declines a comment. Paulson built his fortune betting against the housing market before the 2008 crisis and has strong ties to former President Trump, including hosting a campaign fundraiser. He's become a major player in gold mining investments. Meanwhile Kaplan's firm still holds an 18.5% stake in Trilogy, now worth more than $136 million as both billionaires met with Alaska Governor Mike Dunleavy in July to advance Donlin. This DNN story comes to you thanks to our sponsor. Your pillow just got smarter. It plays your podcast and music, S-O-L-I, solely pillow.com.