Lightbridge Corporation (LTBR)

[IBB-99]

Power, I'm reading between the lines a bit here so don't quote me. The testing with Areva in '09 was when they were still called Thorium Power. My understanding is that running thorium fuel is more complex, research intensive, (expensive) and the horizon much more distant. Apparently you can't just stick thorium fuel rods into conventional reactors. The company needed a more realistic goal for the "short" term.

So the focus is on a "bridge" fuel, one that will work in today's reactors after modification, taking advantage of infrastructure that is already present. The new deal with Areva is to manufacture the rods in a 50-50 JV, so a different animal from the '09 testing agreement. I believe LTBR was hoping for multiple JV's but we've only heard about Areva. It's troubling that there is no signature on the dotted line yet. According the Areva PR that should be happening in the coming months. We shall see.

Testing at Norway's test facility apparently must precede commercial testing. I'm sure the AEC has rules!

A positive here is that there is a high barrier to entry into this field. LTBR has significant IP patented in multiple countries. Hopefully they will achieve success and not be subject to a buyout at pennies on the dollar.