** Shares of Firetail Resources FTL.AX rise as much as 9.5% to A$0.092, their highest level since July 28; last up 4.8%

** Copper explorer to raise A$5 million ($3.24 million) via placement at A$0.08 per share

** Placement at a 4.8% discount to the stock's last close

** Co says proceeds to advance maiden drill program at Excelsior gold project, U.S.

** About 875,443 shares traded, 2.6x the 30-day average

** YTD, stock up 11.4%, including current session's move

($1 = 1.5439 Australian dollars)

(Reporting by Ananya Verma in Bengaluru)

((ananya.verma@thomsonreuters.com;))