** Shares of Australia's Bubalus Resources BUS.AX fall as much as 13.5% to A$0.160, their biggest intraday fall since December 17

** Stock at its lowest level since February 17, on track for its second consecutive day of losses, if the trend holds

** Mineral explorer to raise A$1.5 million ($942,300.00) via placement at an issue price of A$0.165 per share

** Issue price represents a discount of 10.8% to the stock's last closing

** Funds from placement "will be used to rapidly advance co's Victorian Gold projects" - BUS

** BUS stock has risen 30.8% this year, as of 0146 GMT

($1 = 1.5918 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))