John Paulson, the billionaire hedge-fund manager, has sold his entire stake in Trilogy Metals Inc. after maintaining the investment for more than a decade. The move comes as the Alaska-focused mining company recently secured US government backing for its operations in the state's mineral-rich regions.

Paulson, known for his successful bet against subprime mortgages before the 2008 financial crisis, has a history of making high-impact investment decisions that often move markets. His exit from Trilogy Metals raises questions about his assessment of the company's prospects despite the recent government support.

The government backing likely provides Trilogy Metals with increased credibility and potential access to resources in Alaska's mineral-rich regions. Investors will watch closely for any changes in the company's direction following Paulson's departure, which may signal shifting confidence in the mining sector's near-term development.