Lightbridge Corporation

Thank you for standing by, and welcome to the Lightbridge Corporation Business Update and Third 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, Amy, and thank you all for joining us today. Our earnings release was distributed yesterday and is available 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 and product and service offerings. During today's call, words such as expect, anticipate, believe and intend will be used in our discussion of future goals and events. 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. With that, I would like to turn over the call to our first speaker, Seth Gray, Chief Executive Officer of Lightbridge. Hello, Seth.

Hello, Matt. And thank you all for joining us to discuss LightBridge's business update for the third quarter and first nine months of 2025. The first nine months of this year have been marked by unprecedented operational milestones and an increasingly favorable political and regulatory environment. We reached several significant milestones on our ongoing project at Idaho National Laboratory, including the co-extrusion of an eight foot long rod using depleted uranium zirconium alloy with nuclear-grade zirconium cladding. We completed the final review of the experiment design in June for our upcoming irradiation testing. We successfully fabricated enriched uranium zirconium alloy coupon samples that match the exact fuel material composition we intend for our commercial Lightbridge fuel product. Most recently, we successfully loaded capsules containing these enriched samples into an experimental assembly for irradiation testing in the advanced test reactor. Andre will provide additional details on these milestones. We are also advancing our collaboration with OCLO, building on our January Memorandum of Understanding. In October, we announced plans to jointly evaluate additional co-location opportunities for manufacturing advanced fuels from legacy materials, including potential integration of a light bridge fuel facility within OKO's advanced fuel manufacturing infrastructure. 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 significant recognition of our expanding market presence and provides increased visibility among institutional investors. This milestone reflects our progress and validates our position as a leader in advanced nuclear fuel technology. I'll now turn the call over to Andrei Mushakov, Executive VP for Nuclear Operations. to begin the review of our fuel development activities. Andre? Thank you, Seth.