** Shares of New Hope Corporation rise as much as 2.3% to A$5.04, their biggest intraday pct gain since late September

** Aussie coal miner says its unit and local organisation Oakey Coal Action Alliance (OCAA) have agreed terms to discontinue OCAA's appeal against co's New Aclands stage 3 project in Queensland

** OCAA's appeal was in Land Court of Queensland against Queensland govt's decision to grant an Associated Water Licence to project

** Co says agreement requires consent of Department of Local Government, Water and Volunteers and subsequent filing with Land Court of Queensland

** Adds discontinuance of appeal would bring an end to ongoing legal challenges against project approvals, progress its operational ramp up plan without further delay

** Stock hits highest level since Jan 6

** New Hope stock down 0.6% YTD, including current session's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))