Lightbridge Provides Business Update and Announces Third Quarter 2021 Financial Results

About this update from Lightbridge Corporation

[{"type":"text","content":"Conference Call on Monday, November 8, 2021 at 4pm ET\nRESTON, Va., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq: LTBR), an advanced nuclear fuel technology company, announced financial results for the third quarter ended September 30, 2021, as well as the Company's corporate progress and other meaningful developments. Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “I’m pleased with the continued progress Lightbridge has made in our fuel development program throughout the third quarter. We began work on our second U.S. Department of Energy GAIN voucher at Pacific Northwest National Laboratory (PNNL), which is focused on the manufacturing process of Lightbridge Fuel. Last week, we completed our work at Idaho National Laboratory (INL) under our initial GAIN voucher to support irradiation testing of our fuel. This was another important milestone for Lightbridge and sets the stage for us to test our fuel sample coupons in the Advanced Test Reactor (ATR) at INL.” “At the corporate level, we expanded our Board of Directors to seven members while forming a new board committee dedicated to Environmental, Social & Governance (ESG) oversight and guidance. The ESG Committee reflects Lightbridge’s dedication to environmental and social responsibility, an integral part of our long-term performance strategy. Nuclear energy represents a significant fraction of clean energy globally, and we believe the industry will continue to attract greater interest from socially-conscious investors as the metrics of ESG practices are standardized throughout the world.” “The nuclear industry has received greater interest from investors over the last several weeks. With the recent rally in uranium prices, along with the announced investments to upgrade nuclear plants in Illinois that were spurred by a clean energy bill, and discussions during COP26 about the necessity for growth in nuclear power to meet climate goals, nuclear power appears to finally be earning recognition from investors and governments as a vital, sustainable source of clean energy.” Financial Highlights The Company maintained a strong working capital position at September 30, 2021 and had no debt. Cash Flows Summary Cash and cash equivalents were $16.1 million at September 30, 2021, compared to $21.5 million at December 31, 2020, a...

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