Lightbridge Corporation

Thank you for standing by, and welcome to the Lightbridge Corporation Business Update and Fiscal Year 2022 Conference Call. Please note that today's conference is being recorded. It is now my pleasure to introduce Matthew Abernathy, Director of Investor Relations for Lightbridge Corporation. Please go ahead.

Thank you, Norma, and thanks to all of you for joining us today. The company's earnings press release was distributed yesterday and can be viewed on the Investor Relations page of the Lightbridge website at www.ltbridge.com. Joining us on the call today is Seth Gray, Chief Executive Officer, along with Larry Goldman, Chief Financial Officer, Andrei Mushikov, Executive Vice President for Nuclear Operations, and Sherry Holloway, Controller. I would like to remind our listeners that any statements on this call that are not historical facts are forward-looking statements. 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 current expectations and involves 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. And with that, I would like to turn the call over to our first speaker, Seth Gray, Chief Executive Officer of LightBridge. Hello, Seth.

Well, hello, and thank you, Matt. And thank you all for joining us to discuss LightBridge's 2022 results. Since our last conference call, we have achieved significant milestones that were crucial to advancing Lightbridge Fuel and to meeting our key objectives for the year. We are proud to have successfully achieved key critical goals, including our strategic partnership project agreement with DOE and Idaho National Laboratory that we announced in December. Our strategic partnership project has an initial duration of seven years, which is due to the different phases of work to be done with regular milestones that we look forward to sharing. The importance of these agreements and the work ahead for LIBRIDGE cannot be understated. These agreements will enable us to conduct irradiation testing of fuel material sampled in the advanced test reactor. we will collect material performance data on uranium zirconium material, which is the same material that we will use in light-bridge fuel rods. The data we collect from this testing will help support the fuel performance model to obtain and secure regulatory approval, as well as to share with utilities so that they can see how our fuel performs inside a reactor. The data we collect from these tests will apply to the licensing, evaluation, and feasibility of our fuel in various types of commercial reactors, such as pressurized heavy water reactors like CANDU reactors, as well as light water small modular reactors and large pressurized water reactors and boiling water reactors for evaluating the commercial pathway and deployment of our fuel. We also announced the successful completion of our project at Pacific Northwest National Lab under our second DOE Gain Debt Voucher Award in February. This work advances a critical stage in the manufacturing process of light-rich fuel by demonstrating a casting process using depleted uranium zirconium material. The total project value was approximately $663,000, with three-quarters of this amount funded by DOE for the scope performed by PNNL. I want to thank the teams at Lightbridge and PNNL for their collaborative efforts and another successful collaboration with the GAIN office at DOE. I'll turn the call over to Andrei Mushakov, VP for Nuclear Operations, to review our ongoing fuel development activities.