Lightbridge Corporation (LTBR), a management consulting services firm with a market capitalization of approximately $89 million, has entered into an amended agreement with Battelle Energy Alliance, LLC, increasing its financial commitment by approximately $1.6 million, as per a recent SEC filing.
According to InvestingPro data, the company's stock has shown significant momentum, delivering a 67% return over the past year. The modification, signed on January 16, 2025, brings the total estimated cost of their joint nuclear research and development work to $5.4 million.
Under the terms of the third modification to their Cooperative Research and Development Agreement, originally dated September 27, 2022, Lightbridge will make a one-time payment of $600,000 to Battelle, which operates the Idaho National Laboratory. Following this payment, the company will revert to monthly invoicing for ongoing expenses. InvestingPro analysis indicates that Lightbridge maintains a strong liquidity position with a current ratio of 23.32, and notably holds more cash than debt on its balance sheet.
The partnership, which involves collaboration with the U.S. Department of Energy, focuses on fabricating and testing advanced nuclear fuel designs. Specifically, Lightbridge aims to fabricate a delta-phase enriched uranium/zirconium alloy ingot and irradiate fuel coupon specimens in the Advanced Test Reactor at the Idaho National Laboratory, aligning with the specifications of Lightbridge Fuel™.
The recent modification adjusts the financial dynamics of the project, with Lightbridge's total cash payments to Battelle estimated at approximately $6.4 million, excluding contingencies, over the course of the agreements.
The information presented in this article is based on a press release statement filed with the SEC. For comprehensive analysis of Lightbridge Corporation's financial health, which InvestingPro rates as 'FAIR', and access to 10+ additional ProTips about the company's performance, investors can explore the detailed Pro Research Report available on the platform.
In other recent news, Lightbridge Corporation has updated its at-the-market equity offering program, according to a Securities and Exchange Commission filing. The company has amended its sales agreement with Stifel, Nicolaus & Company, Incorporated, allowing for the sale of common stock as part of an "at-the-market" equity offering. Lightbridge has sold approximately $12.4 million of its common shares under the agreement, with around $45.2 million of remaining capacity for future sales.
On the financial front, Lightbridge reported a net loss of $2.7 million in Q3 2024, an increase from the $1.8 million loss in the same quarter the previous year. Despite this, the company maintains a robust working capital position of $25.9 million and total assets of $27.6 million as of September 30, 2024.
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