** Shares of Australia's Locksley Resources LKY.AX fall as much as 11.9% to A$0.26, set for their weakest trading session since October 28, if current trends hold
** Stock touches its lowest level since November 21
** Mineral explorer says it has raised A$17 million ($11.29 million) through placement
** Offer price of A$0.24 per share represents an 18.6% discount, as of last trading close on Wednesday, before it went on a trading halt pending announcement
** Placement to fund drilling and exploration at the company's Mojave Project in California, U.S., among others
** Stock has jumped more than 15-fold this year, including the session's moves
($1 = 1.5051 Australian dollars)
(Reporting by Aamir Sheik Khalid in Bengaluru)
((Aamir.SheikKhalid@thomsonreuters.com))