Actually mappo it really is different. It is called a material fact and that is one that is big enough to affect the share price. It is NOT a material fact to Vale because it would not affect the share price at all if they dropped the Lucky. But with KATX it most certainly IS a Material Fact and it most definitely would affect the KATX share price .. so-oooo -- if Vale dropped out KATX MUST announce it in timely fashion, but Vale does not have to.