Lightbridge Corp. (NASDAQ:LTBR) Q1 2019 Earnings Conference Call Transcript

May 10, 2019 • 11:00 am ET

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Lightbridge Corp. (NASDAQ:LTBR) Q1 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Greetings. Welcome to Lightbridge 2019 First Quarter Earnings Call. At this time all participants are in a listen-only mode. (Operator Instructions) Please note, this conference is being recorded. I will now turn the conference over to David Waldman, Investor Relations. Thank you. You may begin.

Executive
David Waldman

Thank you, operator. Good morning, and welcome to Lightbridge's First Quarter 2019 Business Update Conference Call. The company's press release was distributed after the market close on Thursday and can be viewed on the Investor Relations page of the Lightbridge website at www.ltbridge.com. If anyone has questions after the call, you may contact Investor Relations at 1855- 379-9900.

Seth Grae, our Chief Executive Officer, will lead today's call. In addition, the following executives are available to answer your questions. Larry Goldman, Chief Financial Officer, Jim Malone, Senior Vice President and Chief Nuclear Fuel Development Officer, Andrey Mushakov, Executive Vice President for Nuclear Operations; Jim Fornof, Vice President for Government Program Management, and Shari Holloway (ph) , Senior Staff Accountant.

Today's presentation includes forward-looking statements about the company's competitive position and product and service offerings. During today's call, words such as expect, anticipate, believe and intend will be used in our discussion of goals or events in the future. This presentation is based on our current expectations and involve certain risks and uncertainties that may cause actual results to differ significantly from such estimates. These and other risks are set forth in more detail in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statements whether as a result of new developments or otherwise.

You can participate in today's call in two ways. You may submit questions for management in writing to ir@ltbridge.com. If you've already submitted a question, we thank you. You can also submit them at any time during the prepared remarks or during the Q&A period. In addition, after the prepared remarks, telephone lines will be open for live questions.

Now here is Lightbridge's CEO, Seth Grae.

Executive
Seth Grae

Well, thank you, David, and good morning, everyone. On this call, you're going to hear about our recent progress, advancing our metallic nuclear fuel technology towards commercialization, moving expeditiously with discussions to finalize our first commercial utility agreements.

While I realize investors are anxious for details, we are limited by strict confidentiality obligations as to what we can disclose at the moment. What I can say now is that we are following an established process that we expect will result in a lead test rod contract with a major US nuclear utility this year. We will communicate the details as soon as we are able to do so.

We're also working closely with Framatome through the Enfission joint venture to evaluate several options for fabrication of the fuel samples for lead test rod demonstration in a US commercial reactor.

I'd like to turn the call over to Andrey Mushakov, our Executive VP for Nuclear Operations, who will review the work we're doing on fabrication of