From a TA point of view, looking at 20, 50 and 200 day ma to be kind maybe a $1.50. With a RSI of 70 to 85 the stock is overbought.

They have a big blob of Ni, with another couple of blobs (lenses) beneath that.

Proxy fight last fall leaves company treading water until new management this June.

An investor (Clarus) has been buying up some stock since May and has a meeting with NOT in July after which starts aggressively starts buying up shares, helping drive up shares to close to $3 before SP settles back to the $2.30 - $2.50 range.

NOT puts out a NR supporting the additional potential resource (Hole 49) and discusses plans for other drilling (maybe tripling original resource estimates!). Also an announcement of additional money to be raised through a PP at $2.80/share is announced
which is filled in a matter of days.

TORONTO, Aug. 10 /CNW/ - Noront Resources Ltd. ("Noront") (TSX Venture:
NOT) has been advised that its syndicate of agents, led by Wellington West
Capital Markets Inc. (the "Agents") and including Dundee Securities
Corporation, Genuity Capital Markets, Clarus Securities Inc. and IBK Capital
Corp. has received commitments for its previously announced $20 million
private placement offering of flow-through common shares.

I really would have liked to have been a fly on the wall in that NOT/Clarus July meeting.

My quandary is whether the current SP is fair or is overbought or I wait for additional consolidation or go with the momentum (trend is your friend) and buy more.

I'll say one thing, NOT is a lot more fun than my bank stocks. :)