According to a Form 4 filing, John Paulson’s Paulson & Co. sold 2.56 million shares of NovaGold Resources Inc. (USA) (NYSEMKT: NG) from Wednesday through Friday at a weighted average price of $5.41. Following the recent sales, Paulson & Co. continues to hold 32.95 million shares that make up 10.31% of the company’s common stock. NovaGold Resources focuses on the exploration and development of gold and copper mineral properties, but does not have any operations or realized revenues from its planned business purpose just yet. The company’s main assets consist of a 50% interest in the Donlin Gold project in Alaska, as well as a 50% interest in the Galore Creek project in British Columbia, Canada. NovaGold’s current operations mainly involve the delivery of project milestones, which include receiving various technical, environmental, sustainable development, economic and legal objectives, obtaining permits, completion of feasibility studies, among other things. The company anticipates to spend roughly $25 million throughout 2016, of which $10 million will be used to fund the company’s share of expenditures at the Donlin Gold and Galore Creek projects and $12 million for general and administrative costs. NovaGold Resources Inc. (USA) (NYSEMKT:NG)’s shares have advanced 76% in the past 12 months and are 44% in the green year-to-date. The number of ‘hedgies’ tracked by Insider Monkey with stakes in NovaGold declined to 15 from 17 during the October-December quarter; those 15 funds amassed nearly 23% of the company’s outstanding common stock. Steadfast Capital Management, run by Robert Pitts, reported ownership of 7.64 million shares in NovaGold Resources Inc. (USA) (NYSEMKT:NG) through its 13F for the final quarter of 2015.