  The thermodynamics of the Taub-NUT solution has been predominantly studied in
the Euclidean sector, upon imposing the condition for the absence of Misner
strings. Such thermodynamics is quite exceptional: the periodicity of the
Euclidean time is restricted and thence the NUT charge cannot be independently
varied, the entropy is not equal to a quarter of the area, and the
thermodynamic volume can be negative. In this paper we revisit this paradigm
and study the thermodynamics of the Lorentzian Taub-NUT solution, maintaining
(as recently shown relatively harmless) Misner strings. We argue that in order
to formulate a full cohomogeneity first law where the NUT parameter can be
independently varied, it is natural to introduce a new charge together with its
conjugate quantity. We consider two scenarios: one in which the entropy is
given by the Lorentzian version of the Noether charge, the other in which the
entropy is given by the standard Bekenstein--Hawking area law. In both cases
consistent thermodynamics with positive thermodynamic volume can be formulated.
