Dec 3 (Reuters) - Ausgold Ltd AUC.AX :
* AUSGOLD - ANNOUNCED IT RECEIVED BINDING COMMITMENTS FROM INSTITUTIONAL, SOPHISTICATED INVESTORS FOR SHARE PLACEMENT TO RAISE $2.4 MILLION BEFORE COSTS
* AUSGOLD LTD - PROCEEDS FROM CAPITAL RAISING WILL BE USED TO ACCELERATE EXPLORATION AT COMPANY'S KATANNING GOLD PROJECT
* AUSGOLD - UNDER PLACEMENT, CO WILL ISSUE TOTAL OF 198 MILLION SHARES AT 1.2 CENTS PER SHARE