** Shares of Clara Resources Australia C7A.AX fall as much as 14.3% to A$0.003, its lowest level since March 16

** Exploration co says entered option deed, sale and purchase agreement for divestment of its Queensland Kildanga Ni-Co project

** Deal at a consideration of up to A$1.8 million ($1.27 million)

** Stock has risen 16.7% this year, including session moves

($1 = 1.4118 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com;))