The proceeds will fund the continued development of the graphite project through to Decision to Mine.
The company, through a share purchase plan, is also seeking to raise a further $1m on the same terms as the placement.
Lead managed by Argonaut Securities, the 24.4 million shares placement will be made to existing and new sophisticated and institutional shareholders.
Kibaran Resources executive director Andrew Spinks said: "This very pleasing result of the placement will enable Kibaran to rapidly progress its flagship Epanko Graphite Project.
"The exceptional demand for participation in the placement highlights that investor interest remains strong for quality graphite companies and is recognition of Kibaran’s advanced technical progress, binding off-take agreement and the exceptional investment value the company represents.
"Whilst we are pleased with new institutional and sophisticated investor support, the SPP gives all existing shareholders the opportunity to take up further shares at the same price as the Placement and we look forward to their ongoing support."
