found this re royalty., page-20

Save your energy guys...
The simple facts are an unnamed party has agreed to buy the royalty off Nuinsco - CVY does not waive any rights it has under the agreements. If it closes - ie due diligence is completed to the purchasers satisfaction, they will effectively pay $3.1m for a 1% royalty - CVY can exercise their option at anytime up to 2015. They wont exercise it early as it can be satisfied in shares and most would assume the SP will be higher once a decision is made to mine, therefore less dilution than if they were to issue shares now.
If the buyer proceed they potentially get $780k plus(assuming gold at $1200 ou)pa for life of mine. So they will make money out of this. if the gold price remains >$1700 thye get $1.1m pa...it is simply an investment.
What is encouraging is that they are doign this before the PEA is complete...so clearly they are confident Cameron is a mine.