** Shares of Adavale Resources ADD.AX fall 7.1% to A$0.052 in early trade, their lowest levels since January 16

** Stock on pace for its weakest trade since mid-December, if losses hold

** The mineral explorer receives firm commitments to raise up to A$5.15 million ($3.59 million) via a placement

** Placement issue price at A$0.05, representing a 10.7% discount to stock's last close

** Says funds will be used for advancing co's London Victoria gold mine in New South Wales

** More than 727,000 shares change hands vs 30-day average volume of around 722,000 shares

** Stock up 10.6% YTD, including the day's moves

($1 = 1.4351 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))