** Shares of EQ Resources fall as much as 20% to A$0.04, their lowest levels since Aug 26
** The tungsten miner receives firm commitments to raise A$4.9 mln ($3.12 mln) via placement
** Issue prices of A$0.04 represents a discount of 20% to stock's last close on Dec 6
** Says proceeds from the placement to be used to fund capital projects related to plant expansion, other works, at Mt Carbine, among others
** About 2.4 mln shares change hands, 1.8 times the 30-day average volume of shares
** Stock has fallen 12.3% this year, as of last close
($1 = 1.5723 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com))
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