** Shares of Australia's Northern Minerals fall as much as 12.5% to A$0.021, their lowest level since Aug 2020

** Stock posts its biggest intraday pct fall since June 12

** The diversified miner to raise A$43 mln ($28.87 mln) via two-tranche placement

** Says, will also offer A$5 mln share purchase plan (SPP)

** Placement and SPP at issue price of A$0.019 per share, representing a discount of 20.8% to stock's last closing

** Proceeds from placement and SPP to be utilised to progress Browns Range Heavy Rare Earth project towards production, others

** Around 10.4 mln shares change hands, vs 30-day average volume of 36.2 mln shares

** Stock down 30% YTD as of 0110 GMT

($1 = 1.4896 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))