** Shares of Elevate Uranium fall as much as 10.5% to A$0.340, their biggest intraday pct loss since early Sept

** Stock hits its lowest level since Sept 23

** The uranium explorer says it has received firm commitments to raise A$25 mln ($16.64 mln) through a placement

** Issue price of A$0.325 per share is at a 14.5% discount to last close on Oct 17

** Says funds raised will be used for completion of bench-scale metallurgical testwork program on Koppies Uranium Project ore, among others

** Around 1.3 mln shares exchange hands, 1.8 times the 30-day average of 722,342 shares

** Stock down ~21% YTD, as at 0028 GMT

($1 = 1.5026 Australian dollars)

(Reporting by Echha Jain in Bengaluru)

((Echha.jain@thomsonreuters.com))