In addition to being a high-grade uranium exploration and early stage development company, Skyharbour utilizes a prospect generator strategy by bringing in partner companies to acquire interests in some of our secondary projects by funding exploration at these projects and making cash and share payments to Skyharbour over a period of time. This model allows the Company to focus efforts and capital at our core projects which include the Moore Lake and Russell Lake Projects, while having our JV and option partner companies fund and advance our secondary projects.
Employing this model benefits the Company as partner companies fund exploration and development work while making cash and share payments directly to Skyharbour while they earn-in at the projects. By acting as a prospect generator, Skyharbour can mitigate equity dilution while still retaining upside exposure through minority interests and royalties at the partner-projects as well as shareholdings in the partner companies. The model provides shareholders with ample news flow and upside exposure to mineral discoveries across a diversified project base with numerous operators, while conserving capital and ensuring partner companies fund the bulk of the exploration costs.
Skyharbour partner companies include Orano Canada, Azincourt Energy, Thunderbird Resources (previously Valor), Basin Uranium Corp. Medaro Mining, North Shore Uranium and Terra Clean Energy (previously Tisdale), advancing the Preston, East Preston, Hook Lake, Mann Lake, Yurchison, Falcon and South Falcon East Projects, respectively. More recently, three new earn-in option agreements have been signed with UraEx Resources at the South Dufferin and Bolt Projects, Hatchet Uranium at the Highway Project, and Mustang Energy at the 914W Project, bringing the total partner companies to ten. Skyharbour now has option agreements that total over CAD $41 million in exploration expenditures, over $30 million in stock being issued and over $22 million in cash payments coming into Skyharbour, assuming that these partner companies complete their full earn-ins at their respective projects.
