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Derivative Instruments and Hedging Activities
 6 Months Ended
Mar. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
NOTE 14: DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Our earnings and financial position are affected by changes in gold values. In fiscal year 2012, we used derivative financial instruments in order to manage our commodity price risk associated with the forecasted sales of gold scrap. These derivatives were not designated as hedges, and according to FASB ASC 815-20-25, “Derivatives and Hedging – Recognition,” changes in their fair value were recorded directly in earnings. As of March 31, 2013 and 2012 and as of September 30, 2012 , we had no balance outstanding recorded on our balance sheet.
The table below presents the effect of our derivative financial instruments on the Condensed Consolidated Statements of Operations for the three and six-month periods ended March 31, 2013 and 2012:
 
 
 
 
Losses (Gains) Recognized in Income
  
 
 
 
Three Months Ended March 31,
 
Six Months Ended March 31,
Derivative Instrument
 
Location of Loss (Gain)
 
2013
 
2012
 
2013
 
2012
 
 
 
 
(in thousands)
Non-designated derivatives:
 
 
 
 
 
 
 
 
 
 
Gold Collar
 
Other (income) expense
 
$
—

 
$
922

 
$
—

 
$
(151
)