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

We continue to educate key stakeholders including nuclear utilities in our potential fuel vendor partners about the benefits of our next generation nuclear fuel designs. We expect to enter into commercial arrangements with major nuclear fuel fabricator companies by 2015.

We anticipate that we will be able to begin lead test assembly operation in a full-sized commercial light water reactor by the end of 2017. This involves testing a limited number of our full-scale fuel assemblies in the core of a commercial nuclear power plant over three 18-months cycles. Lead assemblies are approximately 12 to 14 feet along.

Lightbridge also has been pursuing advisory service contracts primarily in Europe and the Middle East. Our focus is on consulting arrangements with governmental entities, planning to create or expand nuclear generation.

Since 2008, Lightbridge has served as an independent advisor to the Emirates Nuclear Energy Corporation and the Federal Authority for Nuclear Regulations in the United Arab Emirates. We have also provided advisory services in Kuwait and to the Gulf Cooperation Council Member States.

During the quarter, our agreement with the Federal Authority for Nuclear Regulation in the United Arab Emirates was renewed and extended through 2014. We believe that in the second half of 2012, we may obtain contracts from other governments interested in deploying nuclear power in their countries. The prospect for increased consulting revenues is real even though the sales cycles for these multi million dollar contracts takes time.

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