Australia's Flynn Gold falls on discounted placement
** Shares of Flynn Gold FG1.AX fall as much as 2% to A$0.048
** Stock at its lowest level since March 28
** Gold explorer announces one-for-two renounceable rights issue to raise up to A$2.5 million ($1.64 million) at 3 Australian cents per share
** Issue price represents a 38.8% discount to FG1's last close
** About 196,300 shares change hands, 1.4x the 30-day avg volume
** Stock down ~6% YTD, as of last close
($1 = 1.5209 Australian dollars)
Reporting by Neha Soni in Bengaluru
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