Nothing unusual or suspicious about the trading of NOT.
Lots of possible answers, ranging across the spectrum - from share manipulation being a fact, to unfounded paranoia. None of the conspiracy theorists have yet suggested the possibility of the FN's having slowly acquired a massive short position that they are about to unwind. [tongue in cheek].
Seriously though, I don't know what to think about the current SP. I'm still convinced that KWG is a target [of Cliffs] and Noront is not, but I also wonder about the odds that I'm wrong. After all, Cliffs probably sees a value of being in bed with a Canadian company that stays "independent" to help with development of the area. Who would that likely be? Which ROF companies have good relations with government and the FN's, yet would not be directly competing with Cliffs? Would that company be a predominantly chromite play, or a predominantly nickel play? See where I'm going ...