** Shares of Australia's Iltani Resources ILT.AX rise as much as 24.6% to a record high of A$0.685

** Stock hits its biggest intraday pct rise since September 23

** The diversified miner to receive A$8 million ($5.20 million) in funding from Queensland Investment Corp's Critical Minerals and Battery Technology Fund

** Funding to be used to advance the development of the Orient Silver-Indium Project, Northern Queensland

** About 860,000 shares change hands, 2.9 times the 30-day avg

** Stock is up 192.7% YTD, including the session's moves

($1 = 1.5370 Australian dollars)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com;))