Release Date: November 01, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you elaborate on the progress of Lightbridge Fuel's development and its potential advantages over traditional nuclear fuels? A: Seth Grae, CEO, explained that Lightbridge Fuel is designed to enhance nuclear reactor performance by increasing power output by 10% to 17% in existing reactors and up to 30% in new builds. It operates at a cooler temperature, enhancing safety, and can potentially incorporate plutonium, aiding in nuclear nonproliferation efforts. The fuel is also being evaluated for use in small modular reactors, with studies funded by the US Department of Energy at MIT and Texas A&M University.
Q: What are the recent developments in the fabrication process of Lightbridge Fuel? A: Andrey Mushakov, Executive VP for Nuclear Operations, reported progress in the fabrication process at Idaho National Laboratory, achieving milestones in extruding fuel material. The next steps include further extrusions with enriched uranium and zirconium alloy and irradiation testing. Additionally, an engineering study with RATEN ICN is assessing the fuel's compatibility with CANDU reactors.
Q: How is Lightbridge Fuel performing in independent studies and what are the implications for its safety and efficiency? A: Scott Holcombe, VP of Engineering, highlighted that independent studies by MIT and Structural Integrity Associates confirm Lightbridge Fuel's enhanced safety and performance. The fuel shows improved heat transfer, lower operating temperatures, and better performance under accident conditions, supporting its continued development and future regulatory licensing.
Q: What is Lightbridge's financial position and how does it support ongoing R&D activities? A: Lawrence Goldman, CFO, stated that Lightbridge has a working capital of $25.9 million, with total assets of $27.6 million and liabilities of $1.2 million as of September 30, 2024. The company has sufficient financial flexibility to support near-term fuel development and is seeking government funding and strategic alliances for long-term R&D and commercialization.
Q: What are the financial results for the third quarter of 2024, and what factors contributed to the changes? A: Sherrie Holloway, Controller, reported a net loss of $2.7 million for Q3 2024, compared to $1.8 million in Q3 2023. R&D expenses increased due to higher project labor costs and consulting fees, while G&A expenses rose slightly due to increased employee compensation and stock-based compensation.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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