BK,

Not to slice hairs here but those warrants have already been exercised and the money is in the bank. Not sure how excited they are today but I do know that most of the warrants have been exercised from the past with the only thing outstanding being the stock options that range from 10 cents to $5.00.

I do understand the meaning of your post though. The big boys saw the potential at that price so we should hold ours and buy more at this price.

The upcoming annual report will show what remains of these options as I am sure some have been exercised.

TORONTO, ONTARIO (April 15, 2008) - Noront Resources Ltd. (“Noront”) (TSX:NOT) is pleased to announce that further to its March 12, 2008 press release announcing acceleration of the expiry to April 10, 2008 of its common share purchase warrants (the “Warrants”) issued pursuant to a private placement completed on February 6, 2008, 2,490,001 Warrants have been exercised for aggregate gross proceeds of $12,450,005. At the close of business on April 10, 2008, all Warrants had either been exercised or had expired. The common shares issued upon exercise of the Warrants are subject to a hold period which expires on June 7, 2008.