Paulson Sells Trilogy Stake, Shifts Focus to Donlin

0:00It's March 9th in Anchorage. Let's get into the news. billionaire investor John Paulson has been making big moves in Alaska's mining world. Last year, he snapped up a 40% stake in the massive Donlin Gold project for $800 million. But recently, he saw his entire nearly 9% holding in Trilogy Metals, a Vancouver-based company focused on Alaska projects. The sale happened between October 1st and December 31st, right after Trilogy's stock jumped more than 200%. That surge came when the Trump administration approved the controversial Ambla Road mining route and committed $35 million for a 10% stake in Trilogy. Paulson unloaded over 14 million shares, though he hasn't said why. A spokesperson for his firm declined to comment as the Trilogy. Experts like Ian Lange from the Colorado School of Mines say it could be anything from shifting focus to Donlin or just normal trading, not. Necessarily a lack of faith. Paulson built his fortune betting against the housing market

1:03before the 2008 crash and his since poured money into gold mines. He's also tight with President Trump, hosting fundraisers and even being I'd for Treasury Secretary. Meanwhile, another big player, Thomas Kaplan of Electrum Group, is sticking with Trilogy. His 18.5% stake is now worth over $136 million. Showing not everyone's caching out. The Daily News Now is presented by our sponsor. Do not just listen to podcasts, get lost in them comfortably, S-O-L-I, solelypillow.com.