Q: PNG is interesting. Can you expand a bit of the statement "Profit fell 29% on higher financing costs". Is this something to be concerned about? Do you forsee it going lower or staying steady in the 2.15 - 2.20 range for a bit until next earnings which could show better numbers?
5i Research Answer:
PNG noted that financing costs rose largely in connection with the credit facility signed in April. However it did not specifically quantify this on a per share basis. In the Q3, financial costs went from $239k to $636k. A large portion of this increase was due to the amortization of costs associated with setting up the facility (Typically bank and agent fees). We would expect it to level out soon and based on new contracts we would expect it to do well in 2025, though maybe not as well as the past year.