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NovaGold to buy billionaire Paulson's stake in Alaska mine
By Jacob Lorinc
Bloomberg News
Wednesday, July 22, 2026
NovaGold Resources Inc. agreed to acquire billionaire investor John Paulson’s 40% stake in the Donlin Gold project in Alaska, giving the company full ownership of a giant undeveloped bullion mine.
The all-share transaction will create a new Delaware-based parent company expected to list on the New York Stock Exchange, according to a press release today. NovaGold said owning 100% of Donlin would improve operations and help raise capital for the project's development. The company said the combined business would have an equity value of about $4.2 billion.
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Existing NovaGold shareholders will own about 65% of the new company, while Paulson will receive an indirect stake of about 35% in exchange for his Donlin stake. Including his existing NovaGold shares, Paulson will own about 40% of the company's economic interest, the press release said. ...
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