LTBR - Earnings call 3 2023 | Lightbridge Corporation

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Thank you for standing by, and welcome to the Lightbridge Corporation Business Update and Third Quarter 2023 Conference Call. Please note that today's call is being recorded. It is now my pleasure to introduce Matthew Abenante, Director of Investor Relations for Lightbridge Corporation.

Matthew Abenante

Thank you, Carmen, and thanks to all of you for joining us today. The company's earnings press release was distributed yesterday and can be viewed on the Investor Relations page of the Lightbridge website at www.ltbridge.com.

Officer; call Andrey Seth for Mushakov, Larry Chief the Officer; Chief Nuclear on Controller. Goldman, with Holloway, along Executive Financial us today Grae, is Executive Operations; Joining Sherrie and Vice President

I would that on presentation are call and this position includes facts offerings. our forward-looking are historical the statements. service any and company's not competitive statements that forward-looking to like remind listeners Today's statements about product

used in During presentation and be cause today's significantly expectations differ call, intend events risks or may expect, such is certain results uncertainties and current This discussion believe anticipate, our Lightbridge's filings the Exchange in words These not as on any result Lightbridge statements and future. and goals involve to actual that estimates. assume otherwise. of with will the does other developments Commission. a as such forward-looking to of any set such and new revise in or update forth whether or obligation are Securities from detail risks in more based

And of with speaker, Executive turn Chief the Seth Grae, I our Officer to over to call Hello, first Seth. would Lightbridge. that, like

Seth Grae

bringing our quarter hello, development, by I highly thank Matt, potential. thank third and all Fuel want fuel R&D joining as we to well Lightbridge environment and Well, dynamic closer meaningful us for Lightbridge's on discuss expanding to make you, for start performing team progress thanking to this reaching our you its exceptionally and results. in footprint to commercial continue our

significantly economics nonproliferation developing as will as reactors we well new safety, advanced water-cooled existing and bring modular are nuclear that reactors We small believe benefits. for fuel improved

for RATEN Research which Lightbridge. has energy. of of of benefits a Instead, Conventional study subsidiary determine suitability uses uranium. Institute for Fuel doesn't RATEN. require R&D CANDU and the reactors. for in important is reactors Pitesti compatibility an field specializes the fuel in many Earlier this is Exploring a enriched Romanian use announced in nuclear Research month, the it engineering activities uranium. Fuel CANDU government the potential Lightbridge Institute, will of natural using The Nuclear Lightbridge study we with CANDU

to require in X% under fuel uranium enriched Lightbridge CANDU expect We to reactors.

this expect confirm needed the Fuel. is Lightbridge for level study enrichment that that We will engineering

the CANDU can shorter fuel only XX reactor. roughly XX water and down the about mitigates bundles because reactor in the much designs so rods XXXX. to weighs while and Additionally, large new rods also CANDU a kilograms, running fuel are without refueled a fuel engineering be associated operational of with by light the and will study utility feet replace the this bundle for a can easier end shutting spent a be completed utility. length CANDU they X testing major reactors of is reactors, We handle. and anticipate for are keeping which typical long advantage many reactor technical risks This to

reactors. which and detailed span NuScale University into over of years, software. -- represents us Pegasus a This The study the and the types optimization reactor. of NuScale is In by university Program The in of module operating been of performance fuel small accident-tolerant next-generation with for safety Associates conducted scope performs Idaho in, reactor. our fuel of modular U.S. MIT. in insights with this evaluate which to under being on by current the Energy's tool, that aims is Fuel performance planned fuel provide the fuel evaluation performance SMR is MIT funding project together Lightbridge perform hydraulic improve with designed July, generation project the thermal will study modular the advanced Texas various DOE's study various of Energy from our with ongoing Lightbridge reactors. fuel conditions. This an light small MIT design us and National research thermal inside to strategic water evaluating Partnering America's power. DOE-funded will CRADA led fuel reactor, safety to understanding contractor how University fuels we approximately in is used -- of to Lightbridge test the designed NuScale SMR is modular to be small studies December, agreement a using provides a with Battelle comprehensive software a Lightbridge small X its of which simulation our partnership umbrella the fuel a fuel Alliance, material will Laboratory. These announced Integrity Structural evaluation participating for Lightbridge in million reactor $X announced testing economics of Energy and us Nuclear performance that we In of conduct R&D simulate samples largest and awarded and the A&M Department safety agreements to analysis awards. had enable the radiation a of The X develop is is X and

performance We in Lightbridge material will collect fuel. used the uranium-zirconium alloy data on

utilities the reactor licensing operating of world. the The around will are that a proposition benefits over use to call by Lightbridge data the we including types value and United development Operations, Andrey? States of Mushakov, and stakeholders. I'll and our VP performance technical Romania our and apply safety, economic initiatives review to in turn fuel operational the from our fuel to are and Nuclear activities. actively aspects examining in collect for fuel We ongoing fuel regulatory other variety Andrey for our of confirmation Executive of

Andrey Mushakov

Seth. you, Thank

and to assess a compatibility fuel for to of suitability assessment leverage subsidiary Nuclear study including and Pitesti the This using As CANDU with reactors. covers key perform areas, thermal hydraulic trip technical the Seth our mentioned, we thermal of CANDU RATEN, kickoff a Institute, engineering project and meeting just engaged engineering an I Research Romania, analysis, ICN's a study Metronics design, from had team mechanical returned evaluations. RATEN where experts. to for

knowledge this and economic potential reactors fuel of evaluations issues. and will study the role important world-class engineering team from to with licensing nuclear working of engineers their CANDU able be CANDU of be to this navigating technology. The in pleased future related are an guiding and We in-depth regulatory play outcome benefit

During characterization. cash are our recently to X Lab, National and depleted materials using that undergoing uranium with currently Idaho -- alloy initial ingots we have project been to zirconium able

next scaled Our is the to depleted to scale conduct up uranium. for step ingots ingot suitable extrusions then size the and using extrusion it from make initial up

Associates performance of the will with experimental and NuScale's of by heat Department awards. data design, of expected transfer behavior a unique entails conditions. The a module use program A&M small This start of the reactor simulated to infrastructures the the NuScale properties. normal on small R&D basic of Power friction Structural generate of on Energy thermo soon accelerate expect fuel the modular million and to collaboration and study University deployment factor, $X which Integrity funded We project leverage U.S. is water, by advanced applications project Texas Nuclear our existing Energy's the sets comprehensive measuring characterization reactors off-normal water, testing fuels leveraging of light flow and for light hydraulic University,

to of the react provide ongoing safety modular SMR to light that, relates are DOE-funded in and in new to we to a I'll evaluation The various accident reactors. university analysis modular turn and over fuels MIT the Our for performance Seth. and tolerant involved simulate call reactors. With study project aims by economics improve with to scope small small led MIT safety and fuel the scale Fuel back Lightbridge water of of other

Seth Grae

There our is and focusing enhance interest domestic of Russian enrichment critical creation. uranium. Clyburn in and the nuclear Thank you, It capabilities. United today's global believe small Jim is XXXX. States power nuclear mining, sufficiently by domestic month, nuclear for expanding United is become Earlier The Congress. on Support future World doubling the Energy nuclear and Bob presents to the of IAEA report Latta programs XXXX. within emissions expand modular bipartisan foresees can power's traction of of capacity, Agency for rising uranium gaining report's for Currently independence sustainable nation's extensions. further the Andrey. released capacity Energy nuclear Congressman resilience. Last amplifies especially legislation to energy United one Lightbridge allies operating International security to clean fuel This achieve strong enrichment strongly Fuel in power capacity. growth reduce pivotal energy markets. a few that acknowledges helping and domestic energy of bright part energy, fuel We Act Nuclear lead receiving limit outlook of interest conversion By support to new including scenario conversion emissions. energy the reintroduced for reliance growing job importance the and this is for security. Security the the its license our also bolstering States in we The operating Nuclear This nuclear Fuel and potential. nuclear key issues to on reactors establish The which reactors, are underscores boost a the in could national projects. and States report week, net-zero

major including growing are to a modular and unique do countries not invented represents and economic small benefits future Many that investments power Lightbridge large bring plans nonproliferation countries in nuclear our reactors. fuel plans boost both Fuel safety, for announcing currently reactors. have We Lightbridge to nuclear opportunity for existing sector. water-cooled

results. turn Larry Financial company's Officer, to Now Goldman, Larry? summarize to Chief call financial I will over the the

Lawrence Goldman

everyone. Thank you, Seth, afternoon, and good

our Total earnings to the fund XX, $XX.X who equivalents quarter P&L increase development, XXXX flexibility will go external contain leading conduct over turn very cash million capital disclosures, XX, XXXX. our as were $X.X ensure today. million and XXXX, XXXX, months XX, and expect million. position we as ended by the to government with release funding September additional and a commercialization the for XX, government the September Form the the Total that $X.X Total well ample well cash cash the as months ability future was million Lightbridge at the future fuel was cost-sharing call to ended XX, used issuance company's XXXX. for from million September to decrease of cash long-term future raised support amount our will Holloway, September as for to at we and cash we same important financial and to filed for total have respect financing the R&D financial the December working equivalents XXXX. period same facility. In of capital expenditures. million capital For to business in net versus the working stakeholders our to further our months help order $X.X to December our XXXX. information the and over ended Today, in financing funding The sufficient a million of XX, an at-the-market third support provided at to as $XX.X our X of that XXXX. be in was operating stockholders Fuel. I is X liabilities compared as requirements were million was to million our X the from results now Controller, to our million that This in working in others the in XXXX, in new alliances the regarding stock at period that of $XX.X future as $XX.X strategic which such Sherrie XXXX. $X.X our for refer financial results $XX.X compared near-term activities cash our access third due to development as in $XX.X milestones million activity. Total of activities ATM R&D have capital XXXX, fuel we our assets quarter and XX-Q Sherrie? was as order please contributions the compared our filed same Lightbridge This later will yesterday September or see common may proceeds $X.X to decrease was to and XX, our well federal in our by and as

Sherrie Holloway

to our compensation a operating project in $X.X $X.X for increase employee the of increase U.S. million, of XXXX. XX, in million employee by September $X.X million expense of employee XXXX, other ended ended Thank insurance and third an employee X of the and outside million decrease to benefits National increase a of million a offset the compensation costs from decrease other the by incurred in $X.X development and $X.X in stock-based you, ended Total compared and due ended of voucher to an third the benefits compensation offset an in increase compensation professional XXXX, Larry. Net Total September expenses account. Back September Laboratories million stock-based and from in months of and months for treasury in R&D $X.X million September and $X.X of XXXX, to September XXXX, was the million, you, game $X of the income XX, million to XXXX. XXXX. was an quarter $X.X decrease million of other for due quarter costs third primarily ended of million fees quarter due and interest the savings of $X.X to in to $X.X quarter was $X.X quarter bank $X.X This income for million. increase XX, XXXX, earned X $X.X expenses to was first Total third $X.X third This million completed increase increase the G&A the compared decrease was increase quarter The due for million. third Seth. to XXXX, the quarter million primarily quarter XXXX, the amounted XXXX. increase was bills for third XX, to the compared $X.X million. Total X and XX, were project $X.X labor XX, of $X for loss million ended million was quarter of This third other to for $X.X compared for was our income an decrease income in an $X.X that million for compared research million. September in

Seth Grae

on Sherrie. you, thank for you, Thank And call. participating everybody, today's

updates. for forward In providing meantime, ir@ltbridge.com. questions Goodbye. We Stay safe be look conference to any call. can we additional received at not the and well. reached have We this

Operator

And you. this concludes today's Thank conference.

You now may disconnect.

Lightbridge (LTBR) 31 Oct 232023 Q3 Earnings call transcript