The good news is that they have plenty of cash and short-term investments, and are profitable as of June 30, 2011 (a big change from the net loss in the same quarter in 2010). The quality of management probably has a lot to do with that result. The CEO and members of the team responsible for drilling have strong backgrounds in mining. Riverside seems to have done a lot of things right according to its unaudited financial statements, with timely capital raises and a sufficient number of wholly-owned properties. Their key to turning a financial corner appears to be the revenue they've collected from larger partners who held options to explore various properties. Majors who elect not to extend these options allow properties to revert to 100% ownership of the original explorer.
The risk for Riverside is that too many of its properties could be abandoned by larger partners. Having 100% ownership is not a selling point if the owned properties have been abandoned by prospective joint venture partners. Riverside would then be under pressure to prove its remaining properties are viable. A quick scan of several of their press releases reveals a lot of drill intercepts at less than 1.0 g/t Au. This past quarter's profitability gives Riverside some breathing room it can use for more exploration.
Full disclosure: No position in RVSDF at this time.