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