Pike River Coal chairman John Dow says it's still feasible to recover the business, but he does not know how long it will take or how much it will cost.
A modified jet engine, known as a 'gag' unit, is pumping carbon dioxide into the mine to cool it and neutralise the toxic gases inside, but it may be some time before it is safe to enter.
Mr Dow says the board is considering its options at the moment, but he believes the business will survive the disaster.
He told Morning Report the company has sold most of its stockpiled coal to Solid Energy and creditors have given it 90 days breathing space on its bills.
There have been four explosions in the Pike River coal mine since 19 November. Twenty nine men are dead inside.