** Shares of Magnetic Resources MAU.AX falls 2.9% to A$1.33

** Earlier in the day, the stock fell as much as 3.6% to A$1.32, its lowest level since March 10

** Shares gain for a fourth consecutive session

** The mining exploration co says it raised A$35 million ($22.70 million) through a placement

** Issue price of A$1.30 per share, representing a 5.1% discount to co's last close

** Proceeds to be used for feasibility study and early site works at Lady Julie Gold Project in Western Australia

** Stock is up 20.36% YTD, including the session's moves

($1 = 1.5418 Australian dollars)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com;))