Ann: Letter to Shareholders Saturn Metals Priority Offer Amended, page-20

Well the spin to sell this deal is that Peel are vending this into a float in order to advance the project forward. To give it a dedicated team that can do the project justice. Rather than Peel trying to juggle yet another project amongst all their others. Retaining 40% whilst dong so.

It would seem to me to be a de risking exercise whilst the market is regaining a risk on stance towards explorers. Personally i think it is being done in order to achieve some value for the Apollo project. They could have sold it off. But the price achieved would no doubt be a lot less than what they can potentially make in a float scenario. But that will be totally dependant upon Saturn expanding their resource base & the market in Saturn being liquid enough to sell off the 40% interest after the escrow period.

You can make your own mind up about their motivations.