Core Viewpoint - West Red Lake Gold Mines Ltd. is making significant progress in ramping up operations at the Madsen Mine, with expectations for commercial production to begin in early 2026 [2][18]. Production and Financial Performance - In Q3, the Madsen Mine produced 35,700 tonnes of ore at an average grade of 5.4 grams per tonne gold, resulting in 7,055 ounces of gold poured, sold at an average price of US$3,456 per ounce, generating gross proceeds of CAD$33 million [2][3]. - This production represents a 34% increase over Q2, where 5,260 ounces were poured for gross proceeds of CAD$24 million, and a significant increase from Q1's 496 ounces and CAD$2.1 million [3]. Operational Developments - The ramp-up at the Madsen Mine is characterized by increasing monthly mined ore tonnage, with a record day of moving 1,400 tonnes achieved in September [4][7]. - The underground waste rock storage program has been implemented, allowing for more efficient ore movement and contributing to increased production [8][16]. - The mine is focusing on balancing ramp-up projects with regular operations, which has impacted ore production at times due to infrastructure developments [10]. Infrastructure and Equipment - The company is advancing its operational components necessary for declaring commercial production, including the use of historic underground voids for waste rock storage and the rehabilitation of the Madsen Shaft for ore transport [16][17]. - Additional equipment deliveries are expected to complete the planned fleet, enhancing operational efficiency [16]. Future Outlook - The company anticipates that the operational stability achieved through these developments will support the transition to commercial production, with a detailed mine plan expected by the end of the year [17]. - The company is also advancing the Rowan project, which is expected to contribute an additional 35,000 ounces to the production profile within a few years [18]. Financing - The company raised CAD$40,651,260 through a bought deal public offering, with a cash commission paid to the lead underwriter [19].