** Shares of Peak Rare Earths fall as much as 42.1% to A$0.110

** The rare-earths explorer receives firm commitments for A$6 million two-tranche institutional placement

** Issue price of A$0.10 per share represents a 47.4% discount to co's last close

** Co adds funds raised to be used to progress its Ngualla Project, others

** About 1.4 mln shares change hands, 9.8 times the 30-day average volume of shares

** Stock down 65.7% YTD, including session's moves

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))