• Shares of Australia's Green & Gold Minerals fall as much as 7% at A$0.130, hitting their lowest level since August 21

• Stock headed for its biggest pct fall since August 31, if trends hold

• Gold exploration and development company announces a pro-rata renounceable entitlement offer to raise about A$3.2 million

• Offer is priced at A$0.10 per share, representing a 28.6% discount to the stock's last close on September 4

• Company says proceeds from the offer will be used to fund exploration at company's existing projects and as general working capital

• Stock down 31.6% YTD, including session's moves

(Reporting by Shravya Marakini in Bengaluru)