** Shares of Firetail Resources FTL.AX rise as much as 16.5% to A$0.070, their highest level since January 31

** Copper explorer announces a placement raise of A$3 million ($1.89 million) at A$0.060 per share, same as co's last closing price

** Placement to primarily fund exploration program at its Skyline Copper project in Canada and Picha project in Peru

** 895,895 shares change hands, 5.7 times the 30-day average of 157,886

** Stock down ~19% YTD, including current session's moves

($1 = 1.5893 Australian dollars)

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((Manasi.DasaSundeepSameer.Manekar@thomsonreuters.com;))