• Shares of Taiton Resources rise 33.3% to A$0.12, their highest level since February 16

• The mineral explorer raises A$1.25 million ($898,875) to be used for discovery drilling programmes at its Highway copper-gold project and Challenger West gold project among other purposes

• Stock on track for its best day since October 2, if gains hold

• Issue price of A$0.07 represents a discount of 22.2% to stock's last close

• About 106,248 shares change hands, 3.5x the 30-day average of 30,400

• Stock up 4.3%, YTD, including moves in current session

($1 = 1.3906 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)