4. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED) (c) Price risk Commodity Price Risk There are no significant concentrations of credit risk within the Consolidated Entity. The Consolidated Entity’s revenues are exposed to commodity price fluctuations, in particular tin prices.  Periodically the Consolidated Entity enters into derivatives contracts to manage commodity price exposure. In the  2011 financial year the Consolidated utilised derivatives to manage commodity price exposure however, these  contracts were minor and there were no contracts outstanding at the year end.  A summary of the Consolidated Entity’s assets subject to commodity risk is set out below: Credit risk arises from the financial assets of the Consolidated Entity, which comprises cash and cash  equivalents, trade and other receivables, available-for-sale financial assets, other financial assets held as  security and derivative instruments. Cash and cash equivalents are held with National Australia Bank which is  an Australian Bank with an AA credit rating (Standard & Poor’s). The Consolidated Entity’s exposure to credit risk  arises from potential default of the counter party, with the maximum exposure equal to the carrying amount of  the financial assets (as outlined in each applicable note) as well as $3,320,730 (2010: $5,005,260) in relation to  financial guarantees granted and security deposits (refer to note 16). The Consolidated Entity does not hold any credit derivatives to offset its credit exposure. The Consolidated Entity trades only with recognised, creditworthy third parties and as such collateral is not  requested nor is it the Consolidated Entity’s policy to securitise its trade and other receivables.  Receivable balances are monitored on an ongoing basis with the result that the Consolidated Entity does not have  a significant exposure to bad debts. (b) Credit risk 77  NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011 2010 Floating interest  rate Fixed interest Non-Interest  bearing Total carrying  amount Financial Assets Cash and cash equivalents 5,782,053  23,714,574  - 6,949,489 Trade and other receivables - - 14,910,209  3,733,658  Other financial assets 4,255,260  - 750,000  4,255,260  10,037,313  23,714,574  15,660,209  14,938,407  Financial Liabilities Trade and other payables - - (9,947,691) (14,437,589) Interest bearing liabilities - (2,834,719) - (10,053,738) - (2,834,719) (9,947,691) (24,491,327) Net financial assets/(liabilities) (9,552,920) Current assets 2011 2010 Trade receivables 1,962,509  4,930,361 