John-Mark Staude, CEO of Riverside Resources Inc | Rule Symposium 2026: Rick Rule interviews

Rule Investment Media May 11, 2026

Summary

The guest's prospect generation model hands projects to partners who fund the work and run their own due diligence, so shares stay undiluted.

Partners including BHP, Antofagasta and Kinross fully funded project generation, adding earth scientists and crews Riverside never paid for.

Riverside pairs C$180 million of partner spending on its projects with a C$22 million market cap and C$5 million in cash.

The guest says spin-outs have returned over three times Riverside's value to shareholders, with BlueJet expected to double that again.

The next 12 to 18 months bring partner drill results in Mexico, rare earth results in British Columbia, and one more spin-out.

Riverside says it ran a strategic alliance with Kinross on gold in the Mesa Central of Mexico, one of the major companies that fully funded the generative side of the project work.

Hochschild Mining, rendered as Hoshield Mining in the transcript, is named as one of the companies Riverside has run programs with, inside a list that trails off into another slew of other companies.

Staude cites Capitan Silver as his proof point for the spin-out model, saying the shares went from 20 cents to over $2, a 10x in share price for Riverside holders.

Top takeaway Rule's core test for a prospect generator is whose capital it attracts: he argues that turning a project over to Teck brings not just Teck's money but about 120 earth scientists Riverside does not have to pay for.
He asserts that Riverside has returned more capital to shareholders than it has ever raised, and says as a major shareholder of long standing he has personally benefited from the spin-outs.
He pushes on the merchant-banking side, asking how Riverside monetizes projects on Vancouver capital markets and hands affiliate shares to existing holders, treating that distribution mechanism as central to the investment case.
He presses for concrete catalysts over the next 12 to 18 months and asks what the company has done for shareholders lately, treating the unfinished spin-out as a claim that still has to be tested.
He frames the pre-conference interviews and free recordings as a deliberate effort to get investors to allocate time and capital more efficiently, applying his own resource-discipline argument to his audience.

Top takeaway Staude argues the prospect-generator model is better for shareholders because partners supply the capital and the due diligence, so his own shares have not been diluted: 18 years with fewer than 100 million shares outstanding.
He says Riverside has generated more than C$180 million of third-party spending across over 85 projects and helped create seven companies, yet as of the May 2026 interview the market cap is C$22 million with C$5 million cash, a C$17 million enterprise value he calls a real value.
He claims shareholders have already received more than triple Riverside's own value back, that the BlueJet spin-out should add another 2x, and points to Capitan Silver's move from 20 cents to over $2 as proof the model has worked.
He relies on major-company validation to argue his projects are de-risked by other people's teams, citing BHP bringing roughly 250 experts alongside alliances with Antofagasta, Kinross and Santarea Gold and a joint venture with Cliffs.
For the coming year he flags partner drill results including work with Quest Corp in Mexico, rare earth programs in British Columbia, gold and porphyry copper results, and another spin-out that he explicitly calls a forward-looking plan he has not crystallized.