Dec 5 (Reuters) - Austar Gold Ltd AUL.AX :
* TO RAISE UP TO $7.5M THROUGH AN EQUITY RAISING
* EQUITY RAISING INCLUDES PLACEMENT OF $2.5M; AND 1 FOR 2 PRO RATA NON RENOUNCEABLE ENTITLEMENT OFFER TO RAISE UP TO $5M
* FUNDS RAISED WILL BE USED TO COMPLETE CENTENNIAL MINING ACQUISITION, AMONG OTHERS