** Shares of James Bay Minerals fall as much as 16.9% to A$0.715, biggest intraday fall since Nov. 7

** Mineral explorer says it is raising A$6 million ($3.87 million) to accelerate Independence Gold Project, Battle Mountain, Nevada

** Issue price of A$0.65 per share represents a 24.42% discount to last closing price

** Stock hits lowest level since Dec. 2

** JBY up 173% YTD, as of last close

($1 = 1.5521 Australian dollars)

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))