Release Date: August 01, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Lightbridge Corp (LTBR, Financial) is making significant progress in its fuel development programs, including successful demonstrations at Idaho National Laboratory.
- The company is collaborating with prestigious institutions like MIT and Texas A&M University to expand the applications of its fuel technology.
- The recent passage of the ADVANCE Act is expected to streamline the Nuclear Regulatory Commission's review process, benefiting Lightbridge's advanced nuclear fuel technologies.
- Lightbridge Corp (LTBR) has a strong financial position with $27.1 million in cash and cash equivalents, providing ample working capital for near-term fuel development.
- The global commitment to triple nuclear capacity by 2050 and the growing demand for nuclear energy position Lightbridge Corp (LTBR) well for future growth.
Negative Points
- Lightbridge Corp (LTBR) reported a net loss of $2.4 million for the second quarter of 2024, an increase from the previous year.
- Research and development expenses increased significantly, reflecting higher project labor costs and outside R&D expenses.
- The company experienced a decrease in cash provided by financing activities compared to the same period in the previous year.
- There is uncertainty regarding the timeline for achieving key milestones, such as the completion of feasibility studies and engineering designs.
- The commercialization of Lightbridge Fuel is still in the early stages, with extensive testing and regulatory approvals required before market deployment.
Q & A Highlights
Q: Can you provide an update on upcoming milestones over the next 12 to 18 months, such as fuel material samples testing in the reactor?
A: Seth Grae, CEO, stated that the upcoming milestones include continuing strategic partnering projects and Cooperative Research and Development Agreement work at Idaho National Laboratory. This will lead to casting and extrusion of unclad fuel material samples using enriched uranium for irradiation testing. Additionally, they plan to complete a feasibility study for using their fuel in CANDU heavy water reactors and a front-end engineering and design study for a Lightbridge Pilot Fuel Fabrication Facility with Centrus Energy.
Q: Regarding the recent ADVANCE Act legislation, how much time could that save on licensing permits and red tape?
A: Seth Grae, CEO, expressed optimism about the ADVANCE Act, which aims to expedite the NRC licensing process for advanced nuclear fuel technologies. The act directs the NRC to assess its preparedness to review and qualify high-assay low-enriched uranium fuels. He believes the NRC can streamline the review process, and the act indicates Congress's priority for faster licensing.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
