** Shares of Australia's Premier1 Lithium PLC.AX fall as much as 36.4% to A$0.007, their lowest level since Aug 1

** Stock posts its biggest intraday pct fall since Aug 1

** Mineral explorer announces entitlement offer to raise A$1.3 mln ($865,930.00) at an issue price of A$0.008 per share

** Issue price represents a discount of 27.3% to stock's last closing

** Co also announces placement of A$209,000 at same issue price as entitlement offer

** Funds to be used to advance exploration at Yalgoo and Abbotts North lithium projects - PLC

** About 5.3 mln shares change hands, vs the 30-day average volume of 862,054 shares

** Stock has fallen 84.3% this year, as of 0155 GMT

($1 = 1.5013 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))