Financial Data and Key Metrics Changes - The company generated record free cash flow supported by record gold production and price, with a total revenue of approximately $270 million for the quarter from selling 79,000 ounces of gold at a realized price of $3,417 per ounce [12][13] - Net income for the quarter was $49.3 million or $0.15 per share, with adjusted earnings of $73 million or $0.22 per share [13] - Cash flow from operating activities before changes in non-cash working capital was $113 million or $0.13 per share [13] - The cash balance at September 30th was $327 million, with total liquidity of $357 million [14] Business Line Data and Key Metrics Changes - At Musselwhite, the company mined 326,000 tons of ore and milled 329,000 tons at a mill head grade of 5.87 grams per ton gold, resulting in nearly 58,000 ounces of gold production [5] - At Camino Rojo, mining operations were temporarily suspended due to a pit wall event, but production continued from stockpiles, resulting in a total quarterly production of 22,059 ounces of gold [6][8] - South Railroad project is moving towards final permits and construction start, with first gold targeted for early 2028 [10][11] Market Data and Key Metrics Changes - The average realized price for gold sold was $3,508 per ounce, exceeding the average for the quarter [12] - The company expects steady production and cost performance from the fourth quarter, with cash costs and sustaining costs totaling $1,200 and $1,641 per ounce of gold sold, respectively [13] Company Strategy and Development Direction - The company is focused on a "growth-for-longer" vision, emphasizing resource growth, expanded production, and mine life extension at Musselwhite [3][4] - The South Railroad project is seen as a key development step to establish an operating presence in Nevada, aiming for annual production closer to 500,000 ounces at competitive costs [4][10] - The company is committed to multi-year exploration to test mine trend extensions and expand underground resources [17][20] Management's Comments on Operating Environment and Future Outlook - Management highlighted operational resilience and significant advancements in the growth pipeline, with optimism regarding the permitting process for South Railroad and ongoing exploration efforts [31] - The management expressed confidence in the permitting timeline for Camino Rojo, noting strong engagement with Mexican authorities [29][44] Other Important Information - The company has made significant strides in environmental, social, and governance performance, including community engagement and training programs [25][26] - The transition and integration activities at Musselwhite are nearly complete, moving towards a more decentralized model [12] Q&A Session Summary Question: Confirmation on Musselwhite's new scope in the Red Wings area - The new scope is in the higher portions of the ore body, which will help increase throughput at the mill [33][34] Question: Significance of being a FAST-41 covered project for South Railroad - Being a covered project provides tools for efficient review and reduces uncertainty, with an acceleration in the permitting process expected [39][40] Question: Update on permitting needed at Camino Rojo - Engagement with Mexican authorities is ongoing, and confidence in permit approval is high due to demonstrated efforts by the government [44]