** Black Rock Mining's BKT.AX shares fall as much as 16.7% to A$0.023, their lowest level since December 2014

** Graphite explorer gets commitments to raise A$5 million ($3.14 million) via placement at an issue price of A$0.023 per share

** Issue price represents a discount of 14.8% to stock's last closing

** Funds will be applied to general corporate costs and working capital - BKT

** Stock on track for sharpest intraday pct fall since November 27

** Stock has fallen 14.8% this year, as of 2337 GMT

($1 = 1.5931 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))