However, the Canadian Mining Eye index — which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies — dropped 8% in the three months to March 2018.
The Association of Mineworkers and Construction Union (AMCU) said the company failed to take precautions two avoid injuries at its mines earlier this week.
The pre-production capital expenditure is $404M, which includes $105 million of capital cost required to upgrade the government-owned North Canol Road.
Lack of clarity on environmental rules, overlapping federal and local taxes, and regulations that vary from province to province continue to loom over proposed mines.
The country’s energy ministry said he aimed to address the company's development plans in the coming weeks and according to a recent arbitration, which favoured Eldorado.