** Shares of Ora Gold rise as much as 50% to A$0.006, their biggest intraday gain since June 28, 2023
** Stock hits its highest level since May 2
** Gold miner announces strategic alliance with larger peer Westgold Resources to develop its Garden Gully Project
** Says co will raise A$6 million ($3.97 million) from WGX via placement at A$0.0045 per share
** Placement price represents a 12.5% premium to co's last close
** About 7.8 mln shares change hands, compared with the 30-day average volume of around 3.2 mln
** Stock down 42.9% YTD, based on last close
($1 = 1.5126 Australian dollars)
(Reporting by Aaditya Govind Rao in Bengaluru)
((Aaditya.govindrao@thomsonreuters.com;))
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