General discussion, page-52

AG and GJ happy little campers with PWN. They need to develop a way to get the potash out of their ore (a mica like ore). GJ says no problem we will get SM to sort it out. SM is working directly for PWN, so the ownership of KMax IP lies with PWN. Iffy here as it is actually SM's IP and PWN should get exclusive license for use.
AG at this time has another company CXB that is looking at Li. Says to GJ "there is a lot of Li in micas, could KMax work for Li?" GJ says maybe and goes and works the problem out using SM. GJ says to AG "yes we can make it work but we need to know exactly what we are dealing with" So AG gets some sample ore to test. Test is a success. The new process is a derivative of KMax. So GJ and AG say we have to commercialize this. The IP is SM's but SM says it was derived from KMax so PWN will get 25%. AG gets recognized for his contribution by getting WA license and 2 individual licenses. SM cannot own the IP and give 25% to PWN so LEP is formed and PWN has 25% of LEP. The IP is transferred to LEP. Some contacts of PWN put in some seed capital.

The moment that the IP is transferred from SM to LEP, there is a marked change of tone in the LIT announcements and then suddenly SL appears.

My take on this is that AG thinks that because he suggested LMax and provided the ore, LMax is his. His wish is to own the technology and dominate the market. When he saw that he would only get licenses and not ownership, he went to plan B - SL. Plan C is the TO