may be an upcoming problem with the water pump...
Did you have a stock engine?
Or is there a 600ccm cylinder with an Saturno head on it?
Then i would know the solution
What sounds strange to me is the drop.
You did bleed the coolant system carefully?
Don't forget the two bleeder bolts at the cas of the thermostat and the one on the right side where the black plastic part is mounted on the head.
The cooling system of the Saturno is not very good. All the racers had problems.
But while used in normal street conditions there should be no major problems, i think. Depends on your driving style
As you are located in a warm part of the earth, why not just removing the thermostat?
Warm it up slowly and see if things go better.
ciao Joachim
PS if there is a problem wit ha sizing water pump, you should check the timing belt.
Sometimes the belt slips over the pulley of the pump. You may see this on the backside of the belt.
You may also loosen the belt tensioner and try to rotate the water pump by hand. Also try to push it to both sides. Any play noticable?
Beside this you can hear the ball bearings of the pump when they are seizing. But not very long!
Not taking care about this may end very expensive!