RIVERSIDE RESOURCES – The Drills Are Turning on the Glor Project

Dr. John-Mark Staude the President and CEO of Riverside Resources sits down with Maurice Jackson of Proven and Probable to discuss the new, exciting developments at the Glor Project.  Dr. Staude shares with listeners that Centerra Gold is actively drilling at a new target called Puerto El Almo identified at the Glor Project.  Centerra with drilling a total of 1,200 meters comprising of at least 5 to 6 holes.  John-Mark provides listeners the merits and prudence of the prospect generator model which is Riverside Resources successfully employs.  We also discuss the sharestructure, debt, cash, and enterprise value.  And finally we address catalyst’s in Clemente and Cecilia Projects!

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TRANSCRIPT

Maurice Jackson:

Welcome to Proven and Probable where we focus on metals, mining, and more. I’m your host Maurice Jackson. For today, we will provide an update on Riverside Resources where knowledge is golden. Trading on the TSXV symbol RRI and on the OTC symbol RVSDF. Joining us for a conversation is the President CEO and Director of Riverside Resources, Dr. John Mark Staude. Before we begin, allow me to convey to our listeners that Riverside Resources is a sponsor of Proven and Probable and that we are proud shareholders of Riverside Resources for the virtues we will convey in today’s message. Dr. Staude, welcome to the show sir.

John Mark Staude:

Wonderful to be on the show, Maurice.

Maurice Jackson:

John Mark, you and I talk offline frequently about Riverside Resources resolve to increase shareholder value. That commitment continues to come to fruition as Riverside Resources has some exciting news coming out of Sonora Mexico on the Glor Project. What can you share with us?

John Mark Staude:

Man, we’re so happy. We’ve been working on the Glor Project with our joint venture partner Centerra Gold. Now in this news that we’re putting out, they’ve agreed to drill in this year. Right now 2017, we’re getting the rigs out there to drill. We’re excited by that because we have a new target the Puerto Alamo target. What we see is big potential near the surface. Having a major company like Centerra drilling in this target has the potential to be a really big neat new discovery. We’re very excited right now for Riverside.

Maurice Jackson:   

Now, how many meters will Centerra be drilling here?

John Mark Staude:   

It’s excellent. It’s a 1200 meters, probably about 200 meters each hole so about five or six holes into the program. These holes will drill over some of the geophysical features that we now delineated, some of the soil anomalies, and some of the rock chip. With these drilling program of five or six holes will be the initial steps to this new target. It’s right in our sweet spot. We’re delighted to have this program.

Maurice Jackson: 

Whose doing the funding on this?

John Mark Staude: 

We really like this program. We have Centerra Gold funding it 100%. We do the sweat. They bring the capital and we work together. That’s the type of program that Riverside loves to do where we jointly share in the exploration upside and they provide the capital. That helps to de risk the project for both of us.

Maurice Jackson: 

Now John Mark, for someone new to the Riverside Resources story, tell us about the Project Generator Model and how it works.

John Mark Staude: 

We really like it. The way the Project Generator Model works is, we as generators, go and find good projects that have potential for big discoveries, often with partners. For example, right now with Centerra Gold or drilling with another partner Silver Viper. The Project Generator acquires the project and then brings an investing partner, such as a major company, to de risk it and move it ahead together. This way both companies have a chance to win, to be successful, and from Riverside’s standpoint we have a limit to downside. We don’t have to do the expensive work to develop the projects. We have a built in partner, for example, Centerra Gold, that’s a miner. Riverside doesn’t have to become a miner. We become a royalty holder and joint venture interest. It’s a great way for us to, being we have a tight share structure, and being exposed to many different projects simultaneously.

Maurice Jackson:

John Mark congratulations to the shareholders and to both Riverside Resources and Centerra Gold, respectively. John Mark, Riverside is known for being a good steward of capital. What can you tell us about the current status of the share structure?

John Mark Staude:

The share structure is vital. Riverside’s been going 11 years and we have 44 million shares out right now. It’s a tight share structure. We’ve been able to actually work on over 40 projects. Thus, we’ve deluded with almost less than one million shares per project. That’s phenomenal. Having a tight share structure provides amazing upside, amazing swing, on a discovery. Riverside’s in a great position now with Glor drilling.

Maurice Jackson:

Now, how much debt do you have?

John Mark Staude:

We don’t like debt. We don’t have any debt. We have cash in the bank. We really believe that if we can’t make the things work then we don’t over spend our money. We’ve always had cash in the bank so we can be opportunistic. In this case we have over three and a half million dollars in cash. Also, recently we got awarded another half a million dollars coming in from some tax that was outstanding that the Mexican government is going to pay us back. We also have other share payments coming to us as well. Riverside’s in a very strong financial situation.

Maurice Jackson:

I’m going to ask you a question a mutual friend of ours loves to ask you in the public domain at conferences, which is Rick Rule of Sprott Global Resource Investments, and that is what is the current enterprise value?

John Mark Staude:

The enterprise value now is really very low. Their enterprise value now is less than eight million dollars. That doesn’t include the price of all the shares we have as well. We’re not even including those shares. We’re putting those at zero value. We put those shares in the marketer well but our enterprise value slips down to only six million dollars. With us having amazing] upside, multiple projects, resource assets, Riverside’s definitely at a 52 week low, down to the low points in our price cycle. I’m very excited. In fact, I bought more shares last week myself.

Maurice Jackson:

Well I will be including you in that same action as we have tax law selling, which factors into this as well. What we realize is a number of quality names such as, Riverside Resources, tends to be sold off for that very reason. This is a great opportunity for subscribers to reconsider their portfolio and deploy some capital into quality names such as, Riverside Resources. John Mark, we’ve covered the good. What keeps you up at night that I don’t know about?

John Mark Staude:

Well it’s really important to keep our partnership with Centerra Gold. For us, we’re excited by the drilling program now. We have approved a program of 800,000 for the coming year. What keeps me up is that hoping that project does continue to go but if it doesn’t we’ll have the project back and I have actually got all ready lined up people that are interested in the projects. For us, it’s making sure that we get the next deals done. I know we will. In fact, I was up last night, not in a negative way, but in a positive way. We’re working on additional deal terms so what’s been keeping me up at night is the busyness of getting deals done, moving ahead with multiple different programs. Riverside’s actually not sleeping much because we’re pretty active and very excited by what we have going.

Maurice Jackson:

Well I know the shareholders and myself are delighted to hear that. Finally, what did I forget to ask?

John Mark Staude:

I think it’s great and you’ve asked some good questions. The one thing that we’re wondering is what’s happening with the rest of the portfolio? I think two other projects, one of them is the Clemente Project, where Silver Viper has been drilling. We’ll look forward to having news about the Clemente drilling with Silver Viper. It’s their project so it’s their news to put out but we look forward to that. Also, the Cecilia Project, where we just got back that. We’ve been getting some good targets, some good progress, and have put out on the website some new information and geological and three dimensional models and movies. I think going to our website gives you a chance to really see what else Riverside has going in the portfolio.

Maurice Jackson:

John Mark, for someone listening that wants to get more information on Riverside Resources, please share the contact details.

John Mark Staude:

It’s really simple. It’s just www.RivRes.com R-I-V-R-E-S.com or please give us a call 778-327-6671.

Maurice Jackson:

Give us the name also for your investor relations contact there.

John Mark Staude:

Raffi is just awesome. R-A-F-F-I. Raffi is fabulous. It’s wonderful to have him on the team. He’s available in the office every day. We’d love to have him or myself to speak to any investors.

Maurice Jackson:

Again, for our subscribes please don’t be gun shy. Raffi would love to take on any of your questions and concerns. Last but not least, please visit our website www.provenandprobable.com where we interview the most respected names in the natural resource space. You may reach us at [email protected]. Dr. John Mark Staude of Riverside Resources thank you for joining us today on Proven and Probable.

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