You can be pretty sure that NORONT knew all about Pinetree exiting their position because one step Pinetree would have taken would be to ask if Noront had a buyer for that position willing to pay a premium over market for them.

There were some high volume trading days but even so I'd have thought Pinetree would have taken a week or more to exit without damaging the share price.

One can only assume that they don't buy into the speculative promise that Hole 49 provides.

Be interesting to see the percentage of institutional vs retail shareholders now.