Considering who was involved in the placement the additional funds required will not need to come from selling, or short selling to exercise these wts..... In any case the exercised shares cannot be sold untill the 4 month term is up anyway.... new money needed to exercise.

That bing said I think the majority of those involved will exercise their wts.

The second fact is the light trading.... "why exercise when you can buy free trading in the market".... Well the answer to that is .... if that was happening we would be seeing higher volume..... and maybe that is why the volume is lighter...... They may be exercising wts rather than aquiring out of the market....JMHO

If that is so,... then we may see volume and share price pick up starting tomorrow, especially if we have some positive drill results or other pertanent info.

From NR:

TORONTO, ONTARIO--(Feb. 7, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) has closed a private placement of 6,500,000 units of Noront for aggregate gross proceeds of $26,000,000. Noront is very pleased to announce that Rosseau Asset Management; Pinetree Capital Ltd.; Robert McEwen, President, Evanachan Limited; Pierre Lassonde, Chairman, Franco-Nevada Corporation; Sprott Asset Management; and Northfield Capital Corporation purchased a substantial portion of the units in this private placement