Owners of the Beaconsfield Gold mine have narrowly avoided closure following securement of funds.
In the wake of the failed merger between the mine’s owners BCD Resources and Bendigo Mining, BCD has managed to obtain $5 million in funds from an unnamed listed company to repay its debts to Bendigo.
The merger fell apart after Bendigo accused BCD of breaching loan agreements.
Victorian miner Bendigo was preparing to send in administrators to recover the debt from the Tasmanian BCD, and takeover the Beaconsfield mine.
The newly secured funding is set to relieve the local workforce at the mine who were reportedly anxious as to the state of their jobs.
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