Mining services contractor NRW Holdings has emerged as one of the big losers in the collapse of gold miner Gascoyne Resources just weeks after it raised  $24.5 million from shareholders and creditors.

The NRW share price plummeted more than 13 per cent in early trading before recovering to $2.53  on Tuesday after the company revealed it was staring down the barrel of a $35 million hit in the fallout from Gascoyne calling in administrators.