Lightbridge(US:LTBR)2023-07-28 02:25Financial 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]