Shares of the gold producer with operations in Egypt, Centamin, were on a tear during Thursday’s early trade on the FTSE, surging 15 percent after the company said a legal case against it could be rejected by the Egyptian high courts.

During Thursday’s early trade, the stock price gained 9 percent to 60.4 pence before steaming ahead to reach other heights in later trade.

Centamin shares surged to as high as 66 pence, with Reuters describing this movement as the greatest level for more than a year.

This came on the back of investor confidence which had been prompted by talk that a legal case against the company, which has been rambling for a year-and-a-half, could come to a closure.

Almost two years ago, an Egyptian high court of law decreed that Centamin’s permission to mine its Sukari operation was illegal.

This week, Centamin, which is appealing the ruling, said a new law introduced in Egypt on Wednesday this week could lead to the charges being withdrawn.

“Centamin continues to discuss with its advisers the process by which the original claim in relation to the Sukari concession agreement…may be dismissed under the provisions of this new law,” Reuters quoted Centamin as saying in a statement.