Ann: Quarterly Activities Report, page-37

As much as we would like info on what Saturn holds, the single line that stood out most for me in the quarterly was "PCL is preparing for meetings with the PEL 87 Joint Venture and Ministry of Mines & Energy in Windhoek in mid-November 2024." Unlike previous catch-ups, this does not coincide with a conference or other external event. Rather, it seems that parties are getting together to shake hands and sign documents. For WDS also, perhaps an opportunity to repair the relationship, as they have clearly annoyed NAMCOR and/or MME.

Assuming the seismic licence is signed off, that in itself will provide a decent SP bounce imo and as previously noted, forget about the 180 days that follows as WDS will farm in well before that deadline. We can also expect news given that "interpretation and analysis of the...seismic dataset is nearing completion, post integration of the results of multidisciplinary studies including Amplitude vs Offset (AVO) to quantify potential reservoir characteristics and fine tuning of the geophysical/geological interpretation of the various exploration leads that have been identified".

Will all of this be ann prior to the AGM? Very unlikely, but I at least expect news on the outcome of the Windhoek meetings (i.e. seismic licence signed off). Some here have expressed frustration noting their upcoming voting preference for the AGM. If mgt can bring everyone together, help mend relationships and ultimately get things signed, that is an excellent outcome. Positive analysis results that then follow will be one massive cherry on top. We've all been frustrated this year, but let's see how a properly interesting November plays out.