** Bell Potter raises PT on Australia's Ballard Mining BM1.AX to A$1.05 from A$0.80; maintains "buy"
** Says placement to Aurenne Group Holdings Pty strengthens co's balance sheet with strategically aligned investor, confirms corporate attractiveness to neighbouring producer
** On October 29, gold producer secured firm commitments to raise A$20.6 mln ($13.4 mln) at A$0.55/share, 10% premium to previous day's close
** Proceeds will be used to advance growth, development strategy at Mt Ida Gold Project in Western Australia
** Bell Potter says delineation of exploration target viewed as accretive catalyst expected to significantly increase resource base of Mt Ida Project
** BM1 trading flat at A$0.545
($1 = A$1.5389)
(Reporting by Keshav Singh Chundawat in Bengaluru)
((Keshav.singhchundawat@thomsonreuters.com))