** Shares of QEM fall as much as 23.1% to A$0.100, their lowest since March 12, 2021

** Stock posts its biggest intraday percentage decline since Feb. 22, 2022

** Vanadium explorer announces a rights issue to raise up to A$3 mln ($2.05 mln) at A$0.07 per share

** Issue price represents a 46.2% discount to stock's last close

** About 323,000 shares change hands, compared with the 30-day average volume of around 36,000

** Stock down 44.4% YTD, including session's move

($1 = 1.4665 Australian dollars)

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))