Gold Gives John Paulson Largest One-Year Haul in History

Source: Mineweb, Dorothy Kosich (1/31/11)

"Billionaire John Paulson multiplies wealth on gold's rally."

Billionaire John Paulson, who placed the bulk of his personal fortune in funds that bought securities linked to gold, made $5 billion in 2010 as gold climbed almost 30% last year.

The gold investments are primarily conducted through one of the largest ETFs in the world, SPDR Gold Shares, which is believed to hold near 1,230 tons of gold bullion. SEC filings reveal Paulson's hedge funds own 31.5 billion shares in the SPDR Gold Trust, worth an estimated $4 billion.

Citing a "person familiar with the matter," the Wall Street Journal said Paulson earned $1 billion in performance fees last year, normally a 20% cut of his funds' profits. The New York Times quoted unidentified investors in the Paulson Advantage fund who noted the gold-class shares of the Advantage fund surged 30.8% last year.

Paulson placed much of his own fortune in gold-denominated funds and a separate gold-focused fund. "Because gold rose sharply in value last year, the gold-denominated versions of his funds rose as much as 45%," the WSJ reported.

Last September Mineweb reported that Paulson told a crowd at New York's University Club that 80% of his assets are in gold. His investment is spread out among ETFs, physical bullion, and shares of gold mining stocks. Among his equity holdings at the time were AngloGold Ashanti, Barrick, Gold Fields Limited, IAMGOLD, Kinross, NovaGold, Randgold Resources and the SPDR Gold Trust.

"The secret to the spectacular returns Paulson and his employees reported for 2010 is due to their keeping much of their personal money—$14.9 billion or 42% of the total assets under management ($35 billion)-in the funds," Lenzer observed. "That's called putting your money to work alongside your clients."

Gold Explorer Highlights 2020 Achievements and Outlook
Source: Streetwise Reports (01/29/2021)

Magna Gold Corp.'s CEO Arturo Bonillas issued a letter to shareholders outlining the firm's business and financial accomplishments in 2020 and its strategy and outlook for 2021.

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Source: Streetwise Reports (01/28/2021)

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Source: Streetwise Reports (01/28/2021)

MAG Silver's joint venture project Juanicipio produced 230,000 ounces of silver during the quarter ended Dec. 31, 2020.

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Source: Streetwise Reports (01/27/2021)

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Source: The Critical Investor for Streetwise Reports (01/27/2021)

The Critical Investor explains why he believes "investors have an interesting opportunity to invest in a pretty derisked, undervalued and experienced explorer with three chances for success."

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Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

Shenanigans Abound: Gold, Silver and Cryptocurrency
Source: Michael Ballanger for Streetwise Reports (01/26/2021)

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MMT Survey Helps Explorer Identify New Large Target at Ecuador Property
Source: Streetwise Reports (01/26/2021)

Aurania Resources reported that data from an ongoing Mobile MT Survey identified an extensive target at Tsenken at its Lost Cities - Cutucu Project in southeastern Ecuador.