** Shares of Podium Minerals POD.AX fall 21.6% to A$0.029, their lowest level since May 22

** Stock set for weakest trading session since late November 2023, if trends sustain

** Diversified miner to undertake entitlement offer to raise A$2.6 million ($1.68 million)

** Entitlement offer issue price at A$0.023 per share, a 37.8% discount to stock's last closing price

** Says funds will advance metallurgical test work on co's Parks Reef project in Western Australia

** Around 2.3 million shares change hands, 2.4 times the 30-day avg volume

** Stock down 9.4% YTD, including current session's moves

($1 = 1.5513 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))