BUZZ-Australia's Raiden Resources falls on discounted placement

Reuters10-14

** Shares of Raiden Resources fall as much as 10.3% to A$0.035, marking their biggest intraday pct loss since Aug. 23

** Stock hits lowest level since Sept. 19

** Gold explorer says it has received firm commitments from institutional investors to raise A$10 mln ($6.74 mln) via share placement at 3.2 Australian cents per share

** Offer price at a nearly 18% discount to stock's last close

** Co says proceeds will be used to accelerate and expand drilling at the Andover Lithium projects

** About 24.7 mln shares change hands, compared with the 30-day average volume of 14.2 mln shares

($1 = 1.4837 Australian dollars)

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.Kumar@thomsonreuters.com;))

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