John Paulson now owns 20,181,818 shares of NovaGold Resources Inc. (NYSE:NG), according to a 13D filing he just filed.
Total cost for the shares was listed at $113,003,059, which equals about $5.59 a share. That represents a 9.1 percent stake in the gold miner.
This isn't an increase in the number of shares, as it is the same as the holdings in the last two quarters, back to the period ending March 31, 2010.
Primarily a gold mining company, NovaGold also produces ancillary metals like silver, copper and zinc.
NovaGold's mining assets are located in North America.
Showing posts with label John Paulson. Show all posts
Showing posts with label John Paulson. Show all posts
Wednesday, September 1, 2010
Monday, August 30, 2010
NovaGold (AMEX:NG) Expanding Financing Search
After having a cash infusion of $175 million from combined investments from Paulson & Co. Inc. and Quantum Partners Ltd., it put NovaGold (AMEX:NG) (TSE:NG) in the enviable position of having a two-year cushion to work with.
But aren't resting on that by any means, as estimates for their part in the development of Galore Creek copper-silver-gold mine, which they're partnering with Teck Resources (NYSE:TCK), and on Donlin Creek, which they're partnering with Barrick Gold Corp. (NYSE:ABX), comes in at about $4 billion.
When you consider the estimated revenue for NovaGold is $2 million this year, it's incredible to look at the numbers being thrown at them.
This isn't of about where they are, but where they're going to be, and once the feasibility studies are completed, we'll have a better look. But the large amount of resources at just these two mines are staggering, and will generate a flow of revenue for years.
For example, at Galore Creek, there is an indicated resource of close to 9 billion pounds of copper and 7.3 million ounces of gold. By the time these mines begin operating, assuming they do, it will be at a time when demand will continue to be high; for sure for copper, with gold being less certain depending on when production begins.
At earliest production at Galore isn't expected to launch until 2016, and most of the time they won't meet those dates, so it could be assumed to be even later than that.
NovaGold also has significant projects in Argentina, with their San Roque project, and in Alaska with the Ambler project, which may contain one of the largest copper-zinc deposits in the world.
They have a bright future, but it will be an expensive one to develop, and that's why NovaGold Chief Executive Officer Rick Van Nieuwenhuyse has been reaching out to Asia to woo investors in the company.
In exchange for investment, NovaGold is offering a piece of the metal production, which is a huge attractant to the Asian region who will be building out infrastructure for years.
Even in this recession, metal will be in demand, and is expected to surge again whenever a real recovery begins. Now it's a race to get the needed financing to supply the hungry markets.
With the demand out there, a significant number of interested parties should emerge, and NovaGold does have some time to find the best partners.
But aren't resting on that by any means, as estimates for their part in the development of Galore Creek copper-silver-gold mine, which they're partnering with Teck Resources (NYSE:TCK), and on Donlin Creek, which they're partnering with Barrick Gold Corp. (NYSE:ABX), comes in at about $4 billion.
When you consider the estimated revenue for NovaGold is $2 million this year, it's incredible to look at the numbers being thrown at them.
This isn't of about where they are, but where they're going to be, and once the feasibility studies are completed, we'll have a better look. But the large amount of resources at just these two mines are staggering, and will generate a flow of revenue for years.
For example, at Galore Creek, there is an indicated resource of close to 9 billion pounds of copper and 7.3 million ounces of gold. By the time these mines begin operating, assuming they do, it will be at a time when demand will continue to be high; for sure for copper, with gold being less certain depending on when production begins.
At earliest production at Galore isn't expected to launch until 2016, and most of the time they won't meet those dates, so it could be assumed to be even later than that.
NovaGold also has significant projects in Argentina, with their San Roque project, and in Alaska with the Ambler project, which may contain one of the largest copper-zinc deposits in the world.
They have a bright future, but it will be an expensive one to develop, and that's why NovaGold Chief Executive Officer Rick Van Nieuwenhuyse has been reaching out to Asia to woo investors in the company.
In exchange for investment, NovaGold is offering a piece of the metal production, which is a huge attractant to the Asian region who will be building out infrastructure for years.
Even in this recession, metal will be in demand, and is expected to surge again whenever a real recovery begins. Now it's a race to get the needed financing to supply the hungry markets.
With the demand out there, a significant number of interested parties should emerge, and NovaGold does have some time to find the best partners.
Tuesday, August 17, 2010
Eton Park Buys SPDR Gold Shares (NYSEArca:GLD), Gold Fields (NYSE:GFI) in Last Quarter
Eton Park Capital Management LP, the $13 billion hedge fund run by Eric Mindich, moved a significant amount of capital into the gold market last quarter, acquiring shares of SPDR Gold Shares (NYSEArca:GLD) and Gold Fields Ltd. (NYSE:GFI).
Mindich acquired 6.58 million shares of SPDR and 780,000 shares of Gold Fields in the quarter via Eton Park.
SPDR Gold Shares has been one of the favorites of hedge funds in the past, and continues to be. Other major hedge fund holders of SPDR include John Paulson and George Soros, although both held their positions and didn't add any shares last quarter.
They did add gold miners, including Gold Fields by Paulson and Soros as well.
Major gold miners were targeted by major hedge funds in general, with Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) among the largest increase in holding for funds, accounting for the sixth, seventh and eight places in the order listed above.
SPDR Gold Shares landed in second place as far as the greatest increase in investments from hedge funds in the latest quarter, with all of them together holding 68.2 million shares in SPDR.
With data showing a continuing weak global and American economy, we should see an even larger increase for the current quarter of hedge fund holdings in gold.
Mindich acquired 6.58 million shares of SPDR and 780,000 shares of Gold Fields in the quarter via Eton Park.
SPDR Gold Shares has been one of the favorites of hedge funds in the past, and continues to be. Other major hedge fund holders of SPDR include John Paulson and George Soros, although both held their positions and didn't add any shares last quarter.
They did add gold miners, including Gold Fields by Paulson and Soros as well.
Major gold miners were targeted by major hedge funds in general, with Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) among the largest increase in holding for funds, accounting for the sixth, seventh and eight places in the order listed above.
SPDR Gold Shares landed in second place as far as the greatest increase in investments from hedge funds in the latest quarter, with all of them together holding 68.2 million shares in SPDR.
With data showing a continuing weak global and American economy, we should see an even larger increase for the current quarter of hedge fund holdings in gold.
Exxon Mobil (NYSE:XOM), BP (NYSE:BP) Stakes Increased by SAC Capital
Steven Cohen's SAC Capital Advisors LP hedge fund, like John Paulson, has increased its holdings in oil and/or energy companies the last quarter, pointing to concerns over the continued weakness of the U.S. and global economy.
Paulson acquired 9.2 million shares of Exxon Mobil in the last quarter as well.
For SAC Capital, they increased the number of shares they hold in Exxon Mobil by 2.3 million to 3.64 million.
Concerning their acquisition of more BP shares, they added an additional 2.93 million shares, to bring their total to 2.94 million.
In these weak economic conditions, institutional and other large investors look to energy companies to strengthen their portfolios, as they will usually outperform other equities during those times.
Paulson acquired 9.2 million shares of Exxon Mobil in the last quarter as well.
For SAC Capital, they increased the number of shares they hold in Exxon Mobil by 2.3 million to 3.64 million.
Concerning their acquisition of more BP shares, they added an additional 2.93 million shares, to bring their total to 2.94 million.
In these weak economic conditions, institutional and other large investors look to energy companies to strengthen their portfolios, as they will usually outperform other equities during those times.
Saturday, February 27, 2010
John Paulson Buying Land in Western States
John Paulson Building Lots
John Paulson will be bidding on a number of building lots in western states through one of the hedge funds he backs, built for the purpose of reselling those lots to homebuilders who can't find enough lots to build on as banks keep the lots off the market so they can keep them on their books.
Lots being offered are from TOUSA, Inc., a bankrupt builder of homes, and whom chose the Paulson-backed real estate recovery fund to bid on lots in Nevada, colorado and Arizona.
If banks were to put the foreclosed properties on the market, they would then have to declare the losses, which would give a more accurate picture of their financial strength, which they don't want to do.
Although prices are starting to climb on finished lots, there are still good deals out there, and enormous demand for lots that are still going relatively cheap.
John Paulson and others are bidding on these knowing there's a built-in market by all the healthy builders looking to put up houses on them quickly.
John Paulson Building Lots
John Paulson will be bidding on a number of building lots in western states through one of the hedge funds he backs, built for the purpose of reselling those lots to homebuilders who can't find enough lots to build on as banks keep the lots off the market so they can keep them on their books.
Lots being offered are from TOUSA, Inc., a bankrupt builder of homes, and whom chose the Paulson-backed real estate recovery fund to bid on lots in Nevada, colorado and Arizona.
If banks were to put the foreclosed properties on the market, they would then have to declare the losses, which would give a more accurate picture of their financial strength, which they don't want to do.
Although prices are starting to climb on finished lots, there are still good deals out there, and enormous demand for lots that are still going relatively cheap.
John Paulson and others are bidding on these knowing there's a built-in market by all the healthy builders looking to put up houses on them quickly.
John Paulson Building Lots
Thursday, February 25, 2010
Why George Soros, Jim Rogers and John Paulson are Buying Gold
So why are George Soros, Jim Rogers and John Paulson buying gold?
These guys are experts in currencies, possibly more than any other investment vehicle, and the acquisition of gold means they believe gold will rise against the majority of currencies in the world, based on the extraordinary amount of stimulus money printed and thrown around by central banks around the globe.
While there are obvious other factors like the inevitable inflation and ongoing risk factors which continue to rise rather than abate, as witnessed by the Dubai debacle and sovereign wealth crisis in Europe.
The only question someone needs to ask themselves is if the currency they trade in will be worth more than gold in the foreseeable future. If not, guess which one wins out for the best investment choice?
Even if you don't understand all the particulars, when you see heavyweights like George Soros, Jim Rogers and John Paulson acquiring, increasing their positions and holding on to gold, you know they see something important, and part of what they see is mentioned above.
George Soros, Jim Rogers and John Paulson buying gold
These guys are experts in currencies, possibly more than any other investment vehicle, and the acquisition of gold means they believe gold will rise against the majority of currencies in the world, based on the extraordinary amount of stimulus money printed and thrown around by central banks around the globe.
While there are obvious other factors like the inevitable inflation and ongoing risk factors which continue to rise rather than abate, as witnessed by the Dubai debacle and sovereign wealth crisis in Europe.
The only question someone needs to ask themselves is if the currency they trade in will be worth more than gold in the foreseeable future. If not, guess which one wins out for the best investment choice?
Even if you don't understand all the particulars, when you see heavyweights like George Soros, Jim Rogers and John Paulson acquiring, increasing their positions and holding on to gold, you know they see something important, and part of what they see is mentioned above.
George Soros, Jim Rogers and John Paulson buying gold
Thursday, February 18, 2010
George Soros, Marc Faber, John Paulson, Jim Rogers All Buying Gold
George Soros, Marc Faber, John Paulson, Jim Rogers
One thing I learned a long time ago was to ignore most the chatter and look at what people are really doing with their money, rather than what they assert.
In that regard, George Soros, Marc Faber, John Paulson and Jim Rogers, based on their actions and holdings, think gold is an extremely valuable asset to hold during these turbulent economic times.
George Soros is the latest to put his money into gold, specifically via the world's largest gold exchange-traded fund (ETF) - SPDR Gold Trust. Paulson is also known to have large holdings in SPDR as well.
Faber and Jim Rogers have both stated they have significant gold holdings, and while not selling any, are always waiting for gold market corrections to invest more, which I would think they did recently.
So even though some say we're in a gold bubble, even Soros, look at where he placed his money to see if he in fact really believes that. If he did, he wouldn't have took the actions he did.
George Soros, Marc Faber, John Paulson, Jim Rogers
One thing I learned a long time ago was to ignore most the chatter and look at what people are really doing with their money, rather than what they assert.
In that regard, George Soros, Marc Faber, John Paulson and Jim Rogers, based on their actions and holdings, think gold is an extremely valuable asset to hold during these turbulent economic times.
George Soros is the latest to put his money into gold, specifically via the world's largest gold exchange-traded fund (ETF) - SPDR Gold Trust. Paulson is also known to have large holdings in SPDR as well.
Faber and Jim Rogers have both stated they have significant gold holdings, and while not selling any, are always waiting for gold market corrections to invest more, which I would think they did recently.
So even though some say we're in a gold bubble, even Soros, look at where he placed his money to see if he in fact really believes that. If he did, he wouldn't have took the actions he did.
George Soros, Marc Faber, John Paulson, Jim Rogers
Soros, Paulson Large Gold Stakes
George Soros and John Paulson like gold
George Soros and John Paulson revealed in their required 13-F filings that they held significant gold investments in their funds, led by the SPDR Gold Trust (NYSEArca: GLD).
The commitment by Soros Fund Management reveals Soros believes gold will continue to climb in price, as it increased its holdings by 152 percent in SPDR Gold Trust, which brings its total to $663 million. That's the largest holding of the entire fund.
For Paulson & Co., they have a $3.38 billion stake in SPDR, which is over 11 percent of the value of the fund. Paulson has invested a quarter of billion of his own money in the hedge fund.
George Soros and John Paulson like gold
George Soros and John Paulson revealed in their required 13-F filings that they held significant gold investments in their funds, led by the SPDR Gold Trust (NYSEArca: GLD).
The commitment by Soros Fund Management reveals Soros believes gold will continue to climb in price, as it increased its holdings by 152 percent in SPDR Gold Trust, which brings its total to $663 million. That's the largest holding of the entire fund.
For Paulson & Co., they have a $3.38 billion stake in SPDR, which is over 11 percent of the value of the fund. Paulson has invested a quarter of billion of his own money in the hedge fund.
George Soros and John Paulson like gold
Wednesday, November 18, 2009
John Paulson Launching Gold Hedge Fund
With many investors starting to become true believers that gold still has a long way to go up, John Paulson, founder of Paulson & Co., has announced he's going to launch a new gold hedge fund January first, putting the seed money into the company himself of $250 million.
Paulson says he's going to buy assets primarily related to physical gold, including shares of gold miner stocks.
This isn't anything new for Paulson, who at this time is the largest investor in SPDR Gold Shares ETF (NYSE: GLD), a major way to invest in gold. Paulson also already owns shares in mining stocks as well. Paulson & Co. owns 31.5 million shares in SPDR Gold Shares, worth a hefty $3.24 billion.
Gold will continue to go up in price based on nothing other than the flawed monetary policy of the United States through the Federal Reserve. Politicians don't have the will at this time to make meaningful and lasting changes in the monetary policy, and other than Ron Paul, really have no understanding of the cause and effect of it.
Investor Jim Rogers has said recently that the price of gold should be standing at it inflation adjusted price of $2,000. Even so, he is in a holding pattern with gold at this time, saying he's not buying more gold, but he isn't selling either.
Paulson says he's going to buy assets primarily related to physical gold, including shares of gold miner stocks.
This isn't anything new for Paulson, who at this time is the largest investor in SPDR Gold Shares ETF (NYSE: GLD), a major way to invest in gold. Paulson also already owns shares in mining stocks as well. Paulson & Co. owns 31.5 million shares in SPDR Gold Shares, worth a hefty $3.24 billion.
Gold will continue to go up in price based on nothing other than the flawed monetary policy of the United States through the Federal Reserve. Politicians don't have the will at this time to make meaningful and lasting changes in the monetary policy, and other than Ron Paul, really have no understanding of the cause and effect of it.
Investor Jim Rogers has said recently that the price of gold should be standing at it inflation adjusted price of $2,000. Even so, he is in a holding pattern with gold at this time, saying he's not buying more gold, but he isn't selling either.
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