** Shares of Australia's Aureka AKA.AX drop as much as 11.8% to A$0.15, their biggest intraday pct fall since October 22

** Stock touches its lowest level since December 5

** Mineral explorer raises A$3.6 million ($2.39 million) through placement

** Offer price of 14 Australian cents per share represents a 17.6% discount, as of last close

** Co says placement funds will be used to maintain and accelerate co's exploration activities via a second drill rig

** Stock up 11.11% YTD, including session's moves

($1 = 1.5065 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))