NovaGold Resources Inc. agrees to acquire billionaire investor John Paulson’s 40% stake in the Donlin Gold project in Alaska, moving the project toward full ownership by NovaGold. The deal is structured as an all-stock transaction in which NovaGold issues shares to Paulson Advisors, Paulson’s investment vehicle, as consideration for the stake. Multiple outlets describe the acquisition as a consolidation of control over the undeveloped mine. With Paulson’s remaining interest transferred to NovaGold, the company will hold 100% ownership of the Donlin Gold project, which is described as a large, undeveloped gold resource. Bloomberg characterizes the project as a major undeveloped bullion mine, while Canadian reports similarly frame the transaction as NovaGold consolidating ownership through a stock swap with Paulson. The proposed arrangement also effectively links the value of the transaction to the combined market valuation implied by the share exchange, with one report citing a resulting gold-producer value of $4.2 billion. The companies have not indicated immediate operational changes, but the acquisition is presented as an ownership and project-control step for bringing the project forward.