BUZZ-Australia's Magnetic Resources hits 5-month low on discounted placement** Shares of Magnetic Resources MAU.AX falls 2.9% to A$1.33
** Earlier in the day, the stock fell as much as 3.6% to A$1.32, its lowest level since March 10
** Shares gain for a fourth consecutive session
** The mining exploration co says it raised A$35 million ($22.70 million) through a placement
** Issue price of A$1.30 per share, representing a 5.1% discount to co's last close
** Proceeds to be used for feasibility study and early site works at Lady Julie Gold Project in Western Australia
** Stock is up 20.36% YTD, including the session's moves
($1 = 1.5418 Australian dollars)
(Reporting by Anjali Singh in Bengaluru)
((anjali.singh2@thomsonreuters.com;))
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