market folly

John Paulson's hedge fund firm Paulson & Co has filed a Form 4 with the SEC regarding its stake in Trilogy Metals (TMQ).  Per the filing, Paulson sold 18,247 shares on June 8th at a price of $0.5985.  After this sale, they still own over 11.56 million shares of TMQ.

For more from this fund, head to other recent portfolio activity from Paulson & Co.

Per Google Finance, Trilogy Metals is "formerly NovaCopper Inc., is a Canada-based base metals exploration company. The Company focuses on exploring and developing its mineral holdings in the Ambler mining district located in Alaska, the United States. The Company's principal assets, the Upper Kobuk Mineral Projects (UKMP or UKMP Projects), are located in the Ambler mining district in Northwest Alaska. The Company's UKMP Projects include approximately 352,943 acres consisting of the Ambler and Bornite lands. The Ambler lands hosts the Arctic copper-zinc-lead-gold-silver Project and other mineralized targets within a 100-kilometer long volcanogenic massive sulfide belt. The Amber lands are located in Northwestern Alaska and consist of over 112,050 acres of Federal patented mining claims and State of Alaska mining claims. The Bornite deposit is located approximately 25 kilometers southwest of its Arctic deposit. The Bornite lands hosts the Bornite carbonate-hosted copper Project."