An outstanding $7.5 million hedging debt with Macquarie Bank is the last major hurdle in Allstate Explorations' quest to emerge from administration and the resumption of production at the troubled Beaconsfield goldmine in Tasmania.

Beaconsfield Gold, Allstate's 48.5 per cent joint-venture partner in the mine, hopes to negotiate a deal with Macquarie after moving to take an 82.8 per cent stake in Allstate through a deal with Newmont Mining.