BUZZ-Australia's Genmin tumbles on discounted placement** Shares of Genmin GEN.AX fall as much as 54.6% to A$0.010, hitting their lowest since November 11
** Iron ore producer receives firm commitments to raise A$25.7 million ($16.78 million) via a placement
** Placement issue price at A$0.01 per share, a 54.5% discount to the stock's last close
** Says funds will be used to further development at the company's flagship Baniaka project in Gabon
** More than 43.5 million shares change hands, 43.5 times the 30-day average
** Stock down 69.2% YTD, including the day's moves
($1 = 1.5314 Australian dollars)
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
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