** Shares of Megado Minerals fall 11.8% to A$0.015, on track for their biggest daily pct drop since Oct. 7, if current losses hold
** Mineral explorer says it has received commitments to raise up to A$1.5 mln ($986,850) via placement of 127.2 mln shares
** Issue price of A$0.012 per share is at a 29.4% discount to stock's last close
** Stock hits its lowest level since Oct. 24
** About 2.4 mln shares change hands, 3.8x the 30-day avg
** Stock down 57% YTD, as of 0043 GMT
($1 = 1.5200 Australian dollars)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com;))
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