Takeover or Sale of lithium project

Sharing my thoughts, based on the information I've extracted DEG's previous presentations.

Back in Dec 2019 DEG was sitting with $9M cash, compare to CAD sitting with 2 -3M cash.
According to DEG's FEB 2020 presentation, the Drilling stopped at particular location as rig had no more rods!.
According to recent news from CAD they required to discontinue AC drilling at 3 holes and now required RC Drilling.

Going forward company will need more cash for more AC drilling and RC Drilling at current 6 locations plus for lithium project (if they want to monetize it). Regular cash is key for future exploration.

I suspect the company may aim for some big hit and then selling this entire project to a big players like probably DEG as a part for future takeover.

I may be wrong and happy to have your thoughts on this.

		Stock Price	Shares	MktCap	Resournce Estimate	Cash
1	Dec-19	$0.05	939,000,000	46,950,000	1.7Moz	9M
2	Feb-20	$0.16	1,039,000,000	161,045,000	1.7Moz	8M
3	Jul-20	$0.85	1,173,000,000	997,050,000	2.2Moz	28M
4	Sep-20	$1.44	1,196,000,000	1,722,240,000	2.2Moz	28M

DEG raised $31.2M in Apr 2020 @ 28c and again $100M in Sep 2020 @ 1.20