Lightbridge Corporation

Thank you for standing by, and welcome to the Lightbridge Corporation Business Update and Second Quarter 2025 Conference Call. Please note that today's call is being recorded. It is now my pleasure to introduce Matthew Abinanti, Director of Investor Relations for Lightbridge Corporation.

Thank you, Shannon, and thanks to all of you for joining us today. Our earnings press release was distributed yesterday. It 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 Andrei Mushikov, Executive Vice President for Nuclear Operations, Scott Holcomb, Vice President of Engineering, Larry Goldman, Chief Financial Officer, and Sherry Holloway, Controller. I want 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 in 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 for us 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, Matt. and thank you all for joining us to discuss LightBridge's business update for the second quarter and first half of 2025. The first six months of this year have been marked by unprecedented operational milestones and an increasingly favorable political and regulatory environment that we believe may facilitate the development of our advanced nuclear fuel designs. We achieved several significant milestones on our ongoing project at Idaho National Laboratory, including one, co-extrusion of an eight foot long rod using depleted uranium zirconium alloy with nuclear grade zirconium cladding. Two, completion of the final review of the experiment design in June for our upcoming radiation testing. And three, successful fabrication of enriched uranium zirconium alloy coupon samples that match the exact fuel material composition we intend for our commercial Lightbridge fuel products. Andre will provide additional details on each of these milestones. We also entered into a memorandum of understanding with OKLO in January to explore the co-location of commercial fuel fabrication facilities and co-location on advanced fuel recycling and collaboration on advanced fuel recycling. Yesterday, we announced an update. We now plan to jointly evaluate the potential co-location of a Lightbridge fuel fabrication facility within OKLO's newly announced Advanced Fuel Manufacturing Facility, in addition to OKLO's previously announced separate commercial fuel fabrication facility. This collaboration is perfectly timed with the executive orders issued by the White House in May that prioritize accelerating U.S. nuclear energy deployment. Our inclusion in the Russell 2000 and Russell 3000 indexes represents important recognition of our growing market presence and provides enhanced visibility among institutional investors. This milestone reflects our progress and validates our position as a leader in advanced nuclear fuel technology. Now I'll turn the call over to Andrei Mushakov, Executive VP for Nuclear Operations, to begin the review of our fuel development activity. Andrei?