Gympie's administrators KPMG must now report to and convene the second meetings of creditors by May 26.
These meetings will enable creditors to decide the future of Gympie Gold, which was forced into administration in December after an underground fire at the company's Southland Colliery.
According to KPMG, the four-month extension for the meeting was sought after a preliminary assessment of the circumstances of the group and consultation with key stakeholders.
The period of the extension was determined having regarded the time needed for further investigations into the damage caused by the fire at Southland.
Gympie's receiver and manager Andrew Love recently announced that the Gympie gold mine in Queensland had been put on the market.
The Gympie mine produced 55,386 ounces last financial year at cash costs $350/oz and had reserves in mid-2003 of 161,000 ounces and resources of 686,000 oz. Similar output was expected in the fiscal 2004. MiningNews.net
