Oct 10 (Reuters) - Ausgold Ltd AUC.AX
* Ausgold to raise up to 3.9 million dollars for KGP
* received binding commitments for a share placement to raise $1.5 million before costs
* Company will also be conducting a 1-for-5 non-renounceable entitlement issue to existing eligible shareholders
* Under placement, co to issue 60.5 million shares at issue price of 2.5 cents per share