** Shares of Australia's KGL Resources KGL.AX fall as much as 8.6% to A$0.160, their biggest intraday pct fall since October 22

** Stock is up 3% so far this week

** Diversified miner announces A$11 million ($7.15 million) placement to advance its development activities

** Placement at issue price of A$0.14 per share, representing a discount of 20% to the stock's last close

** Stock has risen nearly 80% this year, as of 0205 GMT

($1 = 1.5389 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com;))