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Tuesday, Nov 5, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Alternative Energy

Lightbridge Corporation shares jump 35% on positive strong financial performance

The company has also drawn increased interest from major tech companies like Google and Amazon Web Services

Lightbridge Corporation shares jump 35% on positive strong financial performance
The post-extrusion uranium-zirconium rod. Image via Idaho National Laboratory.

Shares of nuclear fuel tech company, Lightbridge Corporation (NASDAQ: LTBR), leapt approximately 35 per cent on Tuesday.

Discussions on social media reveal that Lightbridge reported significant improvements in profits and sales quarter over quarter, which signals financial health likely to attract growth-focused investors.

For example, these include a cash and equivalents position of USD$27.1 million, which is down from December’s position of $28.6 million due to research and development and other general and administrative expenses. This means a lot of spending power for future research projects.

Furthermore, the total assets for the company in June came in at USD$28 million, with liabilities at USD$900,000, which produced a working capital of USD$26.4 million. It doesn’t hurt that the company sports positive shareholder equity, represented as the difference between total assets and total liabilities, of USD$27 million.

Also, Seth Grae, president and CEO of Lightbridge, noted that the recent approval of the ADVANCE Act represents a significant milestone for the advanced nuclear sector. He emphasized that this important legislation acknowledges the vital role advanced nuclear technologies will have in creating a clean and secure energy future for the United States. Grae believes this law will contribute to a more streamlined regulatory licensing process for Lightbridge Fuel.

Furthermore, the company has also drawn increased interest from major tech companies like Google and Amazon Web Services (AWS), given its focus on nuclear fuel technology.

This sector-wide interest suggests promising growth prospects in nuclear energy and supports the stock’s rise. Additionally, investors and analysts on platforms like X have highlighted LTBR’s upward trend, indicating that strong performance and industry interest are creating market momentum that continues to push the stock price higher.

Read more: Westinghouse hits milestone for eVinci microreactor

Read more: Westinghouse Electric Company inks deal to provide UK first privately-financed SMR fleet

MIT study simulated Lightbridge fuel in SMRs

Lightbridge also shared findings at the TopFuel 2024 Conference from studies conducted by MIT, Structural Integrity Associates (SIA), and Lightbridge itself, all supporting the advanced safety and performance of Lightbridge Fuel.

Supported by the Department of Energy’s (DOE) Nuclear Energy University Programs (NEUP), MIT’s study simulated Lightbridge Fuel in NuScale’s Small Modular Reactor (SMR) and revealed enhanced thermal-hydraulic margins, lower operating temperatures, and greater potential for power increases compared to conventional fuel.

Lightbridge Fuel’s helical cruciform design (HCF) demonstrated a 35 per cent increase in heat transfer area, lower CRUD potential, and other design benefits that improve performance and safety in SMRs. Under a DOE GAIN Regulatory Research Grant, SIA assessed Lightbridge Fuel in a Pressurized Water Reactor (PWR) and found it significantly safer than traditional uranium dioxide (UO₂) fuel during accidents.

The benefits included lower peak cladding temperatures, reduced oxidation, and enhanced safety margins, making Lightbridge Fuel more resilient under loss-of-coolant conditions.

Additionally, Lightbridge presented results from prior overseas tests where its fuel rodlets endured over 24 hours in dryout conditions while maintaining structural integrity—an outcome that would lead to degradation in traditional fuel.

This resilience underscores Lightbridge Fuel’s potential for maintaining safety in extreme scenarios. Further studies confirmed Lightbridge Fuel’s effectiveness across various reactor configurations, with extensive analyses in neutronics, thermal-hydraulics, safety, fuel performance, and irradiation tests.

The company is now preparing for in-reactor testing at Idaho National Laboratory, which will be crucial for further validation, regulatory licensing, and commercial deployment.

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