A few years ago, Bendigo Mining was ranked as one of Australia's largest gold companies by market capitalisation. But over the last two years it has fallen by more than 80 per cent, and in the last year it has dropped 70 per cent to a record low of 10¢ on October 27.

In March, news that it would return to commercial mining was met with a short rally, as hopes grew that it would be redeemed in the eyes of the market, but soon after it continued its slide.