Australia's Augustus Minerals hits near five-month low on discounted placement
** Shares of Augustus Minerals AUG.AX slip as much as 16.1% to A$0.078, their lowest level since Feb 28
** The rare-earths explorer receives commitments to raise over A$1.66 mln ($1.12 mln) via a placement
** Issue price of A$0.07 per share is at a 24.7% discount to last close on July 11
** Says funds raised will be used for deep diamond drilling at the Minnie Springs Cu-Mo Porphyry system, among others
** About 3.6 mln shares exchange hands vs the 30-day average of 1.3 mln shares
** Stock down 11.4% YTD, as of last close
($1 = 1.4804 Australian dollars)
Reporting by Echha Jain in Bengaluru
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