Have a look at the NGF accounts to see how they record their hedge in the 2009 accounts. NGF have now resolved their Lehman hedge by doing another poor deal involving a major loan of almost $100 million at 12% interest.
I am pretty sure that NGF did show the outstanding hedge as a balance sheet liability, and there were some footnotes in their accounts on this.
MacBank has a long history of doing over our small goldies. Just ask MDL about their great hedge deal. You could also have a look at their accounts to see how they record their MacBank gold hedge which runs out in February 2013, I think.
loki
ADU Price at posting:
64.0¢ Sentiment: Hold Disclosure: Held
