** Shares of Australia's MetalsTech MTC.AX fall as much as 21.6% to A$0.22, their biggest intraday pct drop in a year

** Stock touches lowest level since Sept. 18

** The gold explorer says it will raise A$9.4 million ($6.28 million) through placement

** Offer price of A$0.205 represents 26.8% discount, as of co's last close

** Co says funds to be used to complete pre-feasibility studies, carry out exploration drilling, among others

** MTC rose 85.7% in 2025, down 13.5% YTD

($1 = 1.4961 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))