** Shares of Jindalee Resources slip as much as 18.6% to hit their lowest level since Feb 19, 2021

** The lithium miner says it is undertaking a capital raising to raise up to A$5.5 mln ($3.47 mln)

** Issue price of A$1.40 per share is at an 18.6% discount to last close on Oct 11

** Says funds raised to be used to advance exploration and development of McDermitt lithium project, among others

** Shares post their biggest intraday pct loss since April 12, 2021

** JRL stock down 8.8 YTD, as of last close

($1 = 1.5848 Australian dollars)

(Reporting by Echha Jain in Bengaluru)

((Echha.jain@thomsonreuters.com))