The commencement of the joint venture exploration activities in Saudi Arabia is likely to be viewed positively by investors, as it represents an expansion of Ivanhoe Electric's exploration footprint and potential for new resource discoveries. The size of the land for exploration suggests significant potential, which could lead to increased investor optimism about the company's future growth prospects. However, the actual impact on the stock will depend on the results of the exploration activities and the market's perception of the venture's potential.