** Shares of Arika Resources ARI.AX rise 13.8% to A$0.033, their highest level since November 5** Gold explorer to raise A$5.7 million ($3.77 million) at A$0.024 per share ** Says funds to be used for exploration ops at flagship Yundamindra and Kookynie gold projects in Western Australia

** Shares on track to gain most since July 17** About 8.9 mln shares change hands, 6.3x the 30-day average of 1.4 mln** Stock up 22.2% YTD

($1 = 1.5126 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.shaikh@thomsonreuters.com ))