Ann: Update on Guinean Bauxite Infrastructure Solutions, page-41

my experience is that non- binding MOU's are two a penny and often considered by the big companies that value confidentiality with their smaller potential business partners as not price sensitive and not requiring disclosure. the key industry participants often have other potentially conflicting commercial opportunities or partner ventures that could be impacted by such announcements and dont support disclosure until proper legally binding agreements are in place. the small companies are busting to announce and argue price sensitivity but have little leverage if the key industry participant requires discretion.