** Shares of Australia's New Age Exploration NAE.AX fall as much as 20% to A$0.004, posting their biggest intraday pct drop since January 30

** Stock hits its lowest level since February 27

** Diversified minerals & metals explorer secures A$1.6 million ($1.01 million) via share placement

** Placement at an issue price of A$0.004 per share, which represents a discount of 20% to stock's last closing

** Funds from placement to help "advance exploration at Wagyu Gold Project in Central Pilbara, Western Australia" - NAE

** Stock up 14.3% this year, as of 0023 GMT

($1 = 1.5780 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))