A Victorian Supreme Court ruling has smoothed the path for one of the owners of the Beaconsfield Gold mine to take over the operation.

The mine's majority stakeholder, Allstate, was seeking to sell its 51 per cent stake to a third party.

But the court has ruled that joint owner Beaconsfield Gold must be allowed to match any offer to buy Allstate's shares.

Beaconsfield Gold chief executive Bill Colvin says it is a sensible way forward for the mine to be controlled by one owner.

"We believe that the mine would be better served under single ownership, so one company running the mine," he said.

"We believe that we're well-placed to do that.

"We have shareholder approval to run the money, we've been in the joint venture for some time - we understand the asset well."

He says it is hoped the mine will begin producing gold again later this year.

"That may happen as early as October in a limited way as a prelude to the full recommencement of normal mining activities," he said.