Marwal,

I don't know about the value of a producing property, but prior to that, if you want to examine buyout potential, I believe it was TD who did a study that says the average price paid for a buyout of junior gold exploration companies recently is $117 (USD)/Oz. If you want to assume 1mil oz's, at ~108mil shares outstanding, simple math, you'd be looking at around $1.08/share USD.

This is just according to that study, which again, is only based on averages of recent transactions, not implied producing value. There are a great many variables which could swing it either way.