It is one of 24 companies that have not yet paid their annual listing fees and which could be removed from the official list.

GBM Gold's subsidiary Kralcopic held mining licences at a number of sites in Bendigo until late last year.

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That included at the the entrance to the Swan Decline, an 18km long underground tunnel another company dug from Kangaroo Flat to Bendigo at the start of the new millennium.

That tunnel did produce gold, but not enough for previous owners to justify their expenses.

GBM Gold's owners have long hoped to begin exploring for gold in the area again, as well as process tailings from a previous company's operations.

However, it struggled to raise the funds it needed in the years following its take over of sites in Kangaroo Flat and Woodvale.

GBM Gold suspended itself from trading on the ASX in October 2018 and tried several times to raise the money it needed through rights issues.

Last August, state mining regulator Earth Resources revoked GBM Gold subsidiary Kralcopic's licences over concerns about its capacity to fund works.

GBM Gold is taking both the regulator and state mining minister to court in a bid to get its licences back.

The cases are expected to be heard later this year.

A spokesman for GBM Gold confirmed the company does intend to pay its listing fee before the ASX's deadline.