** Shares of Elixir Energy EXR.AX fall 4.6% to A$0.042
** Stock fell as much as 18.2% earlier in the day, touching its lowest level since July 6, 2020
** The gas explorer says it will undertake a placement to raise A$7 million ($4.38 million) to fund farm-in work at Taroom Trough in Queensland
** Placement at 3.5 Australian cents per share, a 20.5% discount to the stock's last close
** Stock down 6.8% YTD
($1 = 1.5964 Australian dollars)
(Reporting by Adwitiya Srivastava in Bengaluru)
((Adwitiya.Srivastava@thomsonreuters.com))
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