** Shares of Reward Minerals rise 5.2% to A$0.061, their highest level since Oct. 8
** Mineral explorer says it will raise A$2.3 mln($1.53 mln) via the placement of 38.4 mln shares
** Issue price of A$0.06 is at a 3.4% premium to company's last closing price
** Co will use funds from placement for completion of a scoping study at SOP Potash project in Western Australia
** Around 375,000 shares change hands, ~4x the 30-day avg
** Stock up 12.6% YTD
($1 = 1.5067 Australian dollars)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com;))
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