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The West Australian Shares in Norton Gold Fields were higher after the company said it was now unhedged following the settlement of a dispute with Lehman Brothers Commercial Corp. The

settlement allows the gold miner to take full advantage of the soaring price of the commodity. Under the terms of the deal announced in July, Norton's gold hedge with Lehman has been

cancelled in exchange for payment of $10 million upfront and the issue of a senior secured note for $97 million to be repaid over four years. Newly appointed chief executive Andre

Labuschagne said with the uncertainty of the hedge and litigation with Lehman Brothers now out of the way, the company focusing consistent production at its operations and cutting operating

costs. "Importantly, our shareholders now will have full exposure to the current gold price, and any further upside potential," he said. Norton shares were up two cents, or 11.43

per cent, to 19.5 cents at 9.15am. GET THE LATEST NEWS FROM THEWEST.COM.AU IN YOUR INBOX. Sign up for our emails