** Shares of Centaurus Metals CTM.AX fall as much as 17.8% to A$0.37, their lowest level since July 21

** The diversified miner to raise A$23 million ($15.06 million) via placement and share purchase plan, with placement issue price at A$0.36 per share

** Issue price represents 20% discount to last close

** Stock marks its worst intraday drop since early April

** Stock up 5.6% this year, including the day's move

($1 = 1.5270 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))