Note 22 of the FY24 Annual Accounts states:
If there was a 10% increase or decrease in the market price of gold, the net realizable value of bullion on hand would increase/(decrease) by
$11,528,897 (30 June 2023: $10,781,596) and the bullion in transit would increase/(decrease) by $289,181 (30 June 2023: $nil). As gold on hand is
held at cost there would be no impact on profit or loss.
The financial instrument note requires the 10% mvt in price to be determined based on gold inventory net realizable value. Even though Balance sheet gold inventory is held at cost, Note 22 lets us back work the realizable value as at 30 June 2024.
Note 22 of the FY24 Annual Accounts states:If there was a 10%...
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