** Shares of Hillgrove Resources HGO.AX fall 17.5% to A$0.033, their lowest level since November 2022
** Co to raise up to A$16 million ($10 million) through placement and share purchase plan to increase copper production at a deposit in its Kanmantoo copper mine
** Offer price of A$0.035 per share a discount of 12.5% to the miner's last closing price of A$0.040 on February 28
** 5.9 million shares change hands, vs the 30-day average of 4.5 million
** Shares down 34.6% this year
($1 = 1.5952 Australian dollars)
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com;))
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