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Lightbridge's CEO Discusses Q2 2012 Results - Earnings Call Transcript

The risks include that are not limited to the degree of market adoption of the Company’s product and service offerings, market competition, dependence on strategic partners and the Company’s ability to manage its business effectively in a rapidly evolving market.

Certainties and other risks are set forth in more detail in our filings with the Securities and Exchange Commission and you know where to find those. We don’t assume any obligation to update or revise those forward-looking statements whether as a result of new development or otherwise.

As our operator indicated, please submit your questions in writing to ir@ltbridge.com. Questions will be read aloud and answered by our senior team. If you’ve already submitted a question, we thank you. But if not or if you have more questions, you can submit them at anytime during the prepared remarks or doing the Q&A period.

Now, here is Seth Grae, President and CEO of Lightbridge. Seth?

Seth Grae

Thank you, Gary. Good morning everyone and thank you for joining us for our 2012 second quarter conference call. Lightbridge continues to log steady incremental progress toward bringing next generation nuclear fuel designs to market. Demonstrations of our fuel technology support the indicated benefits of meaningful power uprates, longer fuel cycles and increased safety.

In addition, our advisory services division has been active in pursuit of new consulting opportunities as global interest ramps up in nuclear energy as a source of long-term, efficient, base-load and carbon-free electric power.

Contract negotiations continue to advance with the Bochvar Institute in Moscow on fabrication of Lightbridge-designed metal fuel samples for irradiation in the MIR research reactor in Dimitrovgrad, Russia, and the Advanced Test Reactor at Idaho National Laboratory.

We remain on schedule to begin irradiation testing of fuel samples in 2013 in the MIR research reactor. Irradiated samples from this program will be used for additional out-of-reactor tests to demonstrate the metallic fuel’s behavior during severe accident scenarios and to provide quantitative verification of the safety benefits of the Lightbridge-designed fuel. We are also on track with our irradiation program at the Advanced Test Reactor working in collaboration with Texas A&M University and Idaho National Laboratory.

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