Adams' departure comes as the receivers remain unsure of the company's future after attempts to re-enter the mine were halted on March 11 following the discovery of further damage and an "active fire in the main-gate roadway" about 1km from the longwall unit.
The mine has been on care and maintenance since March 17, and the receivers have commissioned an expert report on mine safety and the viability of re-entry options.
The same day the attempts to re-enter the mine failed, there had seemed to be a glimmer of hope the company may be reconstructed with Gympie announcing it had replaced its principal bankers, HSBC Precious Metals Australia and Fortis Banks, with a consortium led by Mizuho International and Investec Bank Australia.
With the new bankers on board Gympie put on hold the sale of its Gympie Eldorado gold mine and its stake in junior explorer D'Aguilar Gold while the consortium appraised the situation.
Gympie has warned that, in the absence of any reconstruction or recapitalisation proposal, the administrators would likely only be in a position to recommend liquidation of the group when creditors meet for the second time on May 26.
It said the investigation and appraisals by the new bankers and the receivers and managers needed to be completed to allow every opportunity for a resurrection proposal to be developed in the interests of creditors and other stakeholders in the group.
"While every effort will be made to enable that process to occur prior to May 26, the timing remains uncertain because of the difficulties associated with Southland mine and other related factors," Gympie said.
