** Shares of QX Resources fall as much as 16.7% to A$0.005, hitting their lowest level since Oct 18

** Speciality miner says it has received commitments for a two-tranche placement to raise A$1 mln ($660,500.00) at A$0.005 per share

** Issue price represents a discount of 16.7% to stock's last close

** Co says proceeds will be used for progressing its Queensland gold projects, among others

** Stock down 78.3% YTD, including current session moves

($1 = 1.5140 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))