Lightbridge(US:LTBR)2021-11-08 23:06Financial Data and Key Metrics Changes - The company's working capital position at September 30, 2021, was $15.4 million, down from $17.1 million at December 31, 2020 [27] - Total assets were reported at $16.6 million, with total liabilities at $1.1 million as of September 30, 2021 [27] - Total cash used in operating activities increased to $8.8 million for the nine months ended September 30, 2021, compared to $5.6 million for the same period in 2020 [28] - Net loss for Q3 2021 was $1.9 million, an improvement from a net loss of $3.1 million in Q3 2020 [33] Business Line Data and Key Metrics Changes - Total R&D expenses increased by approximately $0.2 million to $0.4 million for Q3 2021, compared to $0.2 million in Q3 2020 [33] - Total G&A expenses decreased by approximately $1.1 million to $1.7 million for Q3 2021, down from $2.8 million in Q3 2020 [34] Market Data and Key Metrics Changes - Uranium spot prices surged from $30 per pound in August to $50 per pound in September 2021, currently settling around $43 per pound [37] - The International Energy Agency stated that a significant expansion in global nuclear capacity is essential for achieving Net Zero emissions [24] Company Strategy and Development Direction - The company is focused on developing its fuel to improve the economics and safety of nuclear power plants, including large reactors and small modular reactors [8] - Lightbridge Corporation is expanding its patent portfolio to support the commercialization of Lightbridge Fuel [10] - The company aims to seek additional funding from the Department of Energy and establish strategic alliances for future R&D milestones [32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the increasing recognition of nuclear energy's role in meeting energy needs and reducing carbon emissions [20] - The company noted that the private sector is taking a leading role in shaping energy policy, with over 1,600 companies committing to Net Zero [21] - The U.S. Congress is considering a tax credit for nuclear power, which would significantly support existing reactors [39] Other Important Information - The company completed work under the U.S. Department of Energy's GAIN voucher program, collaborating with Idaho National Laboratory [12] - A new board committee dedicated to environmental, social, and governance oversight was formed, reflecting the company's commitment to ESG practices [11] Q&A Session Summary Question: What is driving the recent surge in uranium prices? - The surge is attributed to lower global uranium production due to COVID-19, record buying by producers, and reduced Russian export limits [37] Question: Any updates on additional test loops at the Advanced Test Reactor? - The Advanced Test Reactor is undergoing a core internals change, expected to run until mid-2022, with potential funding for new flow loops being explored [40][41] Question: How does Lightbridge Fuel compare to the TRISO approach? - Lightbridge Fuel offers operational flexibility for water-cooled reactors, while TRISO is better suited for high-temperature coolant conditions [42] Question: Are small modular reactor companies aware of Lightbridge Fuel's progress? - The company expects that SMR designs will implement Lightbridge Fuel due to its safety and economic advantages [46]