I'm guessing it has to do with the financing they announced in their last News Release. (See bold text below)
If they got direct funding from either the government or one of the big energy companies, it adds validity to LTBR's technology...which would be very significant when you consider the ROI.
Fund Managers will look at LTBR as a great investment for the next few years.
Lightbridge Announces 2013 First Quarter Business Update and Financial Results 4:51p ET May 8, 2013 (GlobeNewswire) Lightbridge Corporation (Nasdaq:LTBR), a leading innovator of next generation nuclear fuel designs and provider of nuclear energy consulting services to commercial and governmental organizations, today provided a business update on the progress of its nuclear fuel technology and consulting operations and reported financial results for the quarter ended March 31, 2013.
"Strategic interest is growing in Lightbridge nuclear fuel designs together with increased awareness and independent validation of our metallic fuel's significant safety and economic benefits, compared to conventional uranium oxide fuel," said Seth Grae, President and Chief Executive Officer. "Lightbridge technology remains well positioned to answer the most pressing global questions facing the commercial nuclear energy industry as the industry works to deliver safer, long-term, efficient, base-load and carbon-free electric power."
Lightbridge is developing and commercializing next generation nuclear fuel technology with benefits of increasing power output of existing and new reactors, reducing nuclear waste, improving safety and enhancing proliferation resistance of spent fuel. Lightbridge's comprehensive advisory services are helping existing clients with on-time and on-budget development and regulation of nuclear power plants to expand electricity generation capabilities.
2013 First Quarter Business Update
Fuel Technology
Over the past four months, two independent studies, a peer-reviewed article and analytical models were completed and published that validate the proliferation resistance and safety and economic benefits of Lightbridge fuel technology, Grae said.
"Nuclear fuel managers at the largest U.S. nuclear utilities are enthusiastic about the safety features of our metallic fuel design," he added. "Lightbridge fuel could help moderate the expense of post-Fukushima safety requirements that are driving up power plant operating and construction costs. Nothing is more expensive at a nuclear power plant than safety."
In a large break, loss-of-coolant accident (LOCA) scenario, preliminary analytical modeling shows that the temperature of zirconium cladding on Lightbridge metallic fuel rods remains at least 200 degrees Celsius below the temperature at which steam begins to react with zirconium to generate hydrogen gas and an explosion risk. Additional tests are planned to confirm these preliminary results, Grae said. Under normal conditions, Lightbridge fuels are designed to operate approximately 1,000 degrees Celsius lower than conventional uranium oxide fuels.
In March, the proliferation resistance of the Company's fuel design was validated in an independent analysis conducted by Siemens Industry, Inc. "...(T)he proposed Lightbridge design (is) classified as low enriched uranium (that) cannot be used directly for the construction of nuclear weapons," the report says.
An earlier Siemens Industry analysis of the Company's fuel design validated the technology's benefits of increased power output and enhanced operating economics for nuclear utilities. "The value proposition of Lightbridge's metallic fuel, combined with its proliferation resistance and safety benefits, represent a compelling suite of solutions to big issues that confront nuclear utilities around the world," Grae said.
A peer-reviewed article on Lightbridge metallic fuel technology was published in the December 2012 edition of the American Nuclear Society journal Nuclear Technology. An abstract of the article is available at http://www.new.ans.org/pubs/journals/nt/v_180:3. "The article's publication provides further validation of Lightbridge fuel technology at an important stage in Company negotiations on fuel fabrication for the planned irradiation testing at research reactors in Russia and the U.S.," Grae said.
Lightbridge also reiterated key research and development milestones for its fuel technology.
-- Demonstrate the full-scale fabrication process for Lightbridge metallic fuel rods in 2013-2014.
-- Perform in-reactor and out-of-reactor experiments in 2013-2016.
-- Develop analytical models in 2013-2016 for the Company's metallic fuel technology that can be used for regulatory licensing activities.
-- Begin lead test assembly (LTA) operation in a full-size commercial light water reactor in 2017-2018, which involves testing a limited number of the full-scale fuel assemblies in the core of a commercial nuclear power plant over three 18-month cycles.
Advisory Services
Lightbridge's comprehensive advisory services for developing safe, secure and cost-effective nuclear power have generated more than $40 million in revenue since 2008.
"We have submitted advisory services proposals to additional countries, mostly in Europe, Asia and the Middle East," Grae said. "While the review process for these complex, multi-million dollar contracts can be long, we are optimistic that in 2013 Lightbridge will obtain consulting contracts from other governments interested in deploying nuclear power in their countries. Responses are expected in coming quarters."
Financial Results and Guidance
For the quarter ended March 31, 2013, Lightbridge's net loss was $1.3 million, or a loss of $0.10 per share, on revenue of $0.5 million, compared to a net loss $0.8 million, or a loss of $0.06 per share, on revenue of $1.3 million in the first quarter of 2012. Lightbridge revenues are derived from consulting and strategic advisory services for foreign governments planning to create or expand electricity generation capabilities using nuclear power plants, and are used to help fund the continuing development of the Company's nuclear fuel technologies.
Lightbridge reiterated that nuclear fuel research and development expenses over the next 12 to 15 months are expected to be in the range of $3 million to $4 million, contingent on execution of R&D agreements with outside contractors. "We spent approximately $0.6 million and $0.5 million for research and development during the three months ended March 31, 2013 and 2012, respectively," Grae said.
Balance Sheet Overview
At March 31, 2013, the Company had approximately $3.2 million in cash and cash equivalents, restricted cash and marketable securities, and approximately $4.0 million of working capital, with no long-term debt. Stockholders' equity was approximately $4.6 million at March 31, 2013 compared with $5.8 million on December 31, 2012. Common shares outstanding at March 31, 2013 totaled 12,548,935.
"We expect to seek new financing or additional sources of capital in the next six months to support ongoing R&D activities required to continue to advance Lightbridge fuel products to a commercial stage," Grae said. "Potential sources of cash available to us include equity investments from institutional investors; strategic investment through alliances with major fuel vendors, fuel fabricators and/or other strategic parties during the next three years; and new consulting contracts. Over the next two to three years, our R&D activities are expected to increase with continued tests and demonstrations of our metallic fuel technology for Western pressurized water reactors. These activities are necessary to prepare for full-scale demonstration of our fuel technology in an operating commercial PWR."
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