EXHIBIT 99.1 EX-99.1 2 ltbr_ex991.htm PRESS RELEASE Cash Flows Summary Cash and cash equivalents were $27.9 million, as compared to $28.6 million at December 31, 2023, a decrease of $0.7 million for the first quarter ended March 31, 2024, consisting of the following: 1 Balance Sheet Summary Lightbridge Provides Business Update and Announces First Quarter 2024 Financial Results Conference Call on Friday, May 10th at 11 a.m. ET RESTON, Va, May 9, 2024 (GLOBE NEWSWIRE) – Lightbridge Corporation ("Lightbridge") ...

RESTON, Va., May 01, 2024 (GLOBE NEWSWIRE) -- Lightbridge Corporation ("Lightbridge") (NASDAQ:LTBR), an advanced nuclear fuel technology company, will announce its financial results for the first quarter of fiscal year 2024 on Thursday, May 9th after the market closes. Lightbridge will host a conference call on Friday, May 10, at 11:00 AM ET with the investment community to discuss the Company's financial results and provide an update on its fuel development activities. CONFERENCE CALL & AUDIO WEBCAST The c ...

Nuclear Fuel Technology Development - Lightbridge is developing next-generation nuclear fuel that aims to improve the economics and safety of nuclear power plants, with a focus on metallic fuel that offers superior heat transfer properties [22]. - The company projects that its Lightbridge Fuel™ can provide a power uprate of up to 30% in new-build water-cooled reactors and a potential increase of up to 17% in existing reactors while extending operating cycles from 18 to 24 months [33][35]. - Lightbridge's nuclear fuel technology is expected to significantly enhance safety margins during off-normal events, with preliminary modeling indicating that its fuel rods would remain approximately 200 degrees Celsius cooler than conventional fuels during loss-of-coolant accidents [40]. - Lightbridge anticipates that its fuel will produce half the amount of plutonium compared to conventional fuels, enhancing proliferation resistance and making it unsuitable for weapon purposes [41]. - The anticipated safety benefits of Lightbridge Fuel™ include enhanced structural integrity and improved seismic performance, contributing to overall reactor safety [42]. - The company is developing proprietary nuclear fuel designs expected to enhance the nuclear power industry's economics through higher power output and longer fuel cycles [171]. Research and Development Initiatives - The company has built a significant portfolio of patents and is conducting R&D activities in collaboration with the U.S. Department of Energy's national laboratories [25]. - A $1 million award from the DOE's Nuclear Energy University Program was granted to Texas A&M University for a study on Lightbridge Fuel™, which will generate experimental data on its performance [53]. - The company plans to conduct loop irradiation testing of its metallic fuel samples in the ATR at INL to confirm performance under reactor conditions [64]. - The company anticipates investing approximately $6 million to $8 million in R&D for nuclear fuel over the next 12 to 15 months [203]. - Total R&D expenses increased by $1.2 million for the year ended December 31, 2023, compared to 2022, primarily due to increased INL project labor costs of $0.8 million and allocated employee compensation of $0.4 million [202]. Market and Industry Context - As of January 2024, there are approximately 60 nuclear reactors under construction globally, with most located in Asia, indicating a growing market for Lightbridge's fuel technology [32]. - The nuclear power industry is expected to play a critical role in achieving significant decarbonization, with Lightbridge's technology positioned to support this transition [38]. - Lightbridge's target market includes water-cooled commercial power reactors, such as PWRs, BWRs, and SMRs, which represent a substantial segment of the nuclear power industry [34]. - A decline in the price of non-nuclear energy sources could limit the deployment of new nuclear power plants, reducing the potential market for the company's nuclear fuel technology [116]. - The company faces indirect competition from renewable energy sources, particularly wind and solar, due to government subsidies and incentives that could impact customer purchasing decisions [117]. Financial Performance and Funding - As of December 31, 2023, the company had $28.6 million in cash and cash equivalents and an accumulated deficit of $152.4 million [85]. - The company reported a net loss of $7.9 million for 2023, a 5% increase from a net loss of $7.5 million in 2022 [198]. - The company raised net proceeds of $6.4 million from the sale of approximately 1.5 million shares of common stock during the year ended December 31, 2023 [209]. - The projected total expected expenditures for the next 12 months are approximately $13.8 million, with anticipated negative cash flow from operations [211]. - The company has no debt or lines of credit and has financed operations through the sale of preferred and common stock [215]. Challenges and Risks - The company faces challenges in funding its fuel development program, which is critical to adhere to projected timelines for commercialization [59]. - Establishing a supply chain infrastructure for HALEU is necessary for the commercialization of Lightbridge's nuclear fuel, requiring modifications to existing facilities [63]. - Labor shortages and supply chain disruptions could negatively impact R&D timelines and financial results due to increased shipping demand and inflationary pressures [115]. - The company faces competition from advanced fuel technology (ATF) vendors, which may threaten its value proposition in existing large PWRs [71]. - The company may struggle to obtain necessary authorizations for international technology sales, which could materially affect its international business growth [121]. Intellectual Property and Confidentiality - The company received 1 new patent in 2023 and currently holds 11 U.S. patents and over 146 foreign patents, with U.S. patents beginning to expire in 2027 [77]. - The company intends to apply for additional patents for its nuclear fuel technologies, although the effectiveness of these patents is uncertain [141]. - The company relies on trade secrets to protect some technology, but enforcement of these rights can be expensive and uncertain [142]. - The company has established business procedures to maintain the confidentiality of its proprietary information, including confidentiality agreements [78]. - The company may face challenges in protecting its intellectual property rights, which could adversely affect its business and financial condition if infringed upon [126]. Organizational Structure and Workforce - The company employs six full-time employees and utilizes independent contractors and agencies for various business functions [80]. - The company emphasizes the importance of diversity and inclusion in its workforce to foster creative solutions and better outcomes [82]. - The company is dependent on the recruitment and retention of highly skilled employees, with potential adverse effects on business if qualified personnel cannot be attracted or retained [118]. - Significant leadership changes could hinder strategic planning and execution, potentially causing uncertainty among investors and affecting future performance [120]. Future Outlook and Strategic Plans - Lightbridge expects to have lead test assemblies of its fuel ready for insertion in a commercial reactor in the 2030s, following an estimated eight years for design and safety justification [197]. - The company plans to negotiate subsequent phases of work under agreements with Idaho National Laboratory, which may include post-irradiation examination and transient experiments [177]. - The company is exploring potential collaborations and acquisitions to leverage operational synergies and establish new revenue streams in the nuclear sector [68]. - Future acquisitions may divert management's attention and resources, potentially leading to integration challenges and adverse effects on operating results [133].

EX-99.1 2 ltbr_ex991.htm PRESS RELEASE EXHIBIT 99.1 Lightbridge Provides Business Update and Announces Fiscal Year 2023 Financial Results Conference Call on Thursday, February 29 at 10 a.m. ET RESTON, Va, February 28, 2024 (GLOBE NEWSWIRE) – Lightbridge Corporation ("Lightbridge") (Nasdaq: LTBR), an advanced nuclear fuel technology company, announced its financial results for the fiscal year ended December 31, 2023, and provided an update on the Company's continued progress. Seth Grae, President & Chief Exe ...

Lightbridge Corporation (NASDAQ:LTBR) Q3 2023 Earnings Conference Call October 31, 2023 4:00 PM ET Company Participants Matthew Abenante - Director of Investor Relations Seth Grae - President & Chief Executive Officer Andrey Mushakov - Executive Vice President of Nuclear Operations Larry Goldman - Chief Financial Officer Sherrie Holloway - Controller Conference Call Participants Operator Thank you for standing by and welcome to the Lightbridge Corporation Business Update and Third Quarter 2023 Conference Ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-34487 LIGHTBRIDGE CORPORATION (Exact name of registrant as specified in its charter) (State or ot ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation or organization) For the transition period from _____________ to _____________ 11710 Plaza America Drive, Sui ...

Financial Data and Key Metrics Changes - The net loss for the second quarter ended June 30, 2023, was $1.7 million, compared to $1.5 million for the same period in 2022, indicating a slight increase in losses [58] - Total cash and cash equivalents decreased to $28.2 million as of June 30, 2023, from $28.9 million at December 31, 2022, reflecting a decrease of $0.7 million [25] - Total general and administrative costs were $1.6 million for the second quarter of 2023, up from $1.4 million in the same quarter of 2022 [15] Business Line Data and Key Metrics Changes - Total R&D expenses amounted to $0.4 million for the second quarter of 2023, compared to $0.2 million for the same period in 2022, primarily due to increased project labor costs [58] - The company is collaborating with Texas A&M University on a $1 million study to evaluate the thermal hydraulic performance of Lightbridge Fuel in a NuScale small modular reactor [1][2] Market Data and Key Metrics Changes - Countries in North America, the European Union, and Asia are initiating efforts to extend nuclear plant licenses and construct new facilities, indicating a growing recognition of nuclear power's role in achieving energy and climate goals [13] - The U.K. launched the Great British Nuclear Initiative, aiming for 25% of its electricity from nuclear energy by 2050, reflecting a broader trend towards nuclear energy [31] Company Strategy and Development Direction - The company has joined two pivotal public-private nuclear power partnerships, including the HALEU consortium, to support advanced nuclear energy technologies [5][6] - Lightbridge aims to influence policies and initiatives affecting the small modular reactor market through its participation in the U.S. Department of Commerce's SMR Working Group [7] Management's Comments on Operating Environment and Future Outlook - Management emphasized the increasing perception of nuclear power as essential for national security, energy, and climate objectives, especially in light of global energy challenges [56] - The company is optimistic about the future of nuclear energy and its role in providing clean, reliable electricity with zero carbon emissions [57] Other Important Information - The company received a notice of allowance for a divisional patent related to its innovative metallic nuclear fuel assemblies, expanding its intellectual property portfolio to over 160 patents [21] - The company has strengthened its team by appointing industry experts, including Dr. Scott Holcombe as Vice President of Engineering and Sherri Goodman to the Board of Directors [9][10] Q&A Session Summary Question: Are both the metallic bonded cladding and full casting method being examined for Lightbridge Fuel testing? - The company is developing both methods for different reactor applications to optimize fitting inside the fuel assembly geometry [52][53] Question: How does TRISO fuel compare and contrast to Lightbridge Fuel? - TRISO fuel is designed for different reactor applications and is generally for high-temperature reactor designs, while Lightbridge Fuel can be used in existing water-cooled reactors and future small modular reactors [61] Question: Is there a rough estimate for the cost of retrofitting existing fleet reactors to accept Lightbridge Fuel? - The estimated one-time upfront cost for retrofitting a typical existing 1,100-megawatt pressurized water reactor to accommodate Lightbridge Fuel is approximately $85 million [37]

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-34487 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q LIGHTBRIDGE CORPORATION (Exact name of registrant as specified in its charter) Nevada 91-197565 ...

Financial Data and Key Metrics Changes - The company's working capital position at December 31, 2022, was $28.7 million, compared to $24.7 million at December 31, 2021 [20] - Total cash used in operating activities totaled $6.7 million, a decrease of $4.3 million in 2022 compared to 2021 [21] - Net loss for the year ended December 31, 2022, was $7.5 million, compared to $7.8 million for 2021 [32] Business Line Data and Key Metrics Changes - Total R&D expenses amounted to $0.7 million for the year ended December 31, 2022, compared to $1.4 million for the year ended December 31, 2021, a decrease of $0.7 million [32] - Total G&A expenses for the year ended December 31, 2022, were $7.5 million compared to $7.1 million for the prior year, an increase of $0.4 million [33] Market Data and Key Metrics Changes - The company highlighted a growing interest in nuclear energy, with 90 nuclear power reactors on order or being planned worldwide, and over 300 reactors at the proposal stages [28] - The recent geopolitical events, particularly Russia's invasion of Ukraine, have heightened the focus on energy security, leading to increased momentum for nuclear power [25][26] Company Strategy and Development Direction - The company is pursuing strategic partnerships, including a project agreement with the DOE and Idaho National Laboratory, to advance Lightbridge Fuel development [7][10] - The company plans to invest $6.5 million in research and development over the next 12 to 15 months to support its fuel development [30] Management's Comments on Operating Environment and Future Outlook - Management noted that accountability for achieving net-zero carbon targets is driving momentum toward more nuclear-friendly policies [25] - The company believes that nuclear power is essential for expanding the availability of clean and reliable baseload electricity without carbon emissions [18] Other Important Information - The company successfully completed a project at Pacific Northwest National Lab to demonstrate its nuclear fuel casting process using depleted uranium, a key step in manufacturing Lightbridge Fuel [9][17] - The company expects to continue seeking government funding and forming strategic alliances to support future R&D milestones [30] Q&A Session Summary - The conference call concluded without a Q&A session, as indicated by the closing remarks from the CEO [35]