** Shares of Krakatoa Resources rise as much as 45.5% to A$0.016, hitting their highest since mid-June

** Mineral explorer announces binding term sheet with JSC Caucasas Minerals to acquire up to 80% interest in Zopkhito project, an antimony and gold project located in Georgia for $7 million

** Says received firm commitments from professional investors to raise A$1.28 mln ($819,072.00) through placement

** Issue price of A$0.01 per share represents 9.1% discount to the last close on Dec. 4 when trading was halted pending announcement of acquisition and capital raise

** Stock has fallen 69.4% YTD as of last close

($1 = 1.5627 Australian dollars)

(Reporting by Namrata Verma in Bengaluru)

((namrata.verma@thomsonreuters.com))