Lightbridge(LTBR) - 2024 Q2 - Earnings Call Transcript

Financial Data and Key Metrics Changes - The company's working capital position was $26.4 million as of June 30, 2024, down from$28.3 million at December 31, 2023 [15] - Total cash and cash equivalents were $27.1 million compared to$26.8 million at December 31, 2023, reflecting a decrease of $1.5 million for the six months ended June 30, 2024 [16] - The net loss for the second quarter ended June 30, 2024, was$2.4 million, compared to 1.7 million for the same period in 2023 [18] Business Line Data and Key Metrics Changes - Total R&D expenses amounted to 0.9 million for the second quarter, an increase of $0.5 million compared to$0.4 million for the same period in 2023, primarily due to increased spending on the INL project [18] - Total G&A expenses were $1.8 million for the second quarter, up from$1.6 million for the same period in 2023 [19] Market Data and Key Metrics Changes - Uranium prices are nearing record highs, indicating a potential expansion in the nuclear market, which could significantly increase the market for Lightbridge Fuel [13] - The global consensus on the necessity of nuclear energy to meet the Paris Agreement's goals is growing, further driving demand for nuclear power [12] Company Strategy and Development Direction - The company aims to develop nuclear fuel that improves economics, enhances nonproliferation, and allows for quick adjustments in power output to complement renewables [6] - The recent passage of the ADVANCE Act is seen as a game changer, aiming to streamline the regulatory review process for advanced nuclear fuels [11] Management's Comments on Operating Environment and Future Outlook - Management highlighted the increasing demand for clean and reliable energy due to the growth of data centers, energy-intensive processes, and electrification of transportation [12] - The company is focused on advancing fuel development and strengthening collaborations with industry, government, and academic partners [13] Other Important Information - The company expects to invest approximately $8.3 million in R&D over the next 12 to 15 months [18] - The company anticipates continued government funding and strategic alliances to support future R&D milestones [17] Q&A Session Summary Question: Can you provide an update on upcoming milestones over the next 12 to 18 months? - The company anticipates milestones including the execution of strategic partnerships at Idaho National Laboratory, a feasibility study for CANDU reactors, and a front-end engineering study for a pilot fuel fabrication facility [20] Question: Regarding the recent ADVANCE Act legislation, how much time could that save on licensing permits? - Management expressed optimism that the ADVANCE Act will expedite the NRC licensing process for advanced nuclear fuel technologies, indicating a prioritization of faster licensing by Congress [21]