# CNW - Cirrus Networks Holdings



## YOUNG_TRADER (28 March 2007)

Hmmmm this popped up on my top % movers today albeit on very very low volume but then the stock is very very very tiny

Took a look company is basically a shell looking for new projects, has $1.7m in cash

But with only 26m shares + 13m 20c 30 May 07 any new project could rocket this, 
*
Mkt Cap @ 19c = $5m*


Wouldn't surprise me if they're looking at Uranium given the current plethora of Shells and I.T. Companys going U

I picked up a few just in case

DECEMBER 2006 QUARTERLY REPORT
During the quarter Radar Resources exercised its option to purchase the Company’s Marda-Diemels
and Marda-Koolyanobbing tenements for $275,000.
Identification and review of advanced resource projects and opportunities suitable for acquisition or
potential Joint Venture continues. Projects both in Western Australia and overseas were evaluated
during the quarter.
The Company closed last quarter with approximately $1.76 million in cash.


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## doctorj (28 March 2007)

*Re: LBY - Liberty Gold*

It looks to be at a fair premium to its value as a shell.  Hold and hope isn't usually your style YT...


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## YOUNG_TRADER (28 March 2007)

*Re: LBY - Liberty Gold*

I know Doc,

But then I've only put a few grand into it so its not going to break the bank if it doesn't come through, somethings up though, look at buy depth vs sell depth 

Once I read Qtrly and Half Yearly and realised it was a shell loking for "new projects' I though hmmm U play and jumped on board,

Could be right, but more likely wrong, lets see what Lady luck has instore for me


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## Sean K (29 March 2007)

*Re: LBY - Liberty Gold*

Trading Halt. Might have got in just in time YT. U reakon U eh? Will be interesting to see.


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## greggy (29 March 2007)

*Re: LBY - Liberty Gold*



YOUNG_TRADER said:


> Hmmmm this popped up on my top % movers today albeit on very very low volume but then the stock is very very very tiny
> 
> Took a look company is basically a shell looking for new projects, has $1.7m in cash
> 
> ...



Hi YT,

Its unusual for a shell to have such few shares on issue. It will be interesting to see what the announcement says.  With its recent strong move something big might be about to happen.  I don't have any, but have been buying similar shells like RMG.  Often one tends to get the biggest gains from stocks like these ones (DYL,WMT and SBL are just some examples). 
DYOR


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## YOUNG_TRADER (29 March 2007)

*Re: LBY - Liberty Gold*



kennas said:


> Trading Halt. Might have got in just in time YT. U reakon U eh? Will be interesting to see.




Wow and just think I was not going to follow my gut, well certainly hope its u, its so funny how price and % movement can give away whats going on.

Greggy I wouldn't rate this the same as RMG, LBY is a stock I stumbled on because it was up 40-50% yesterday and was literally a dead shell just sitting there, so why the sudden buying I thought?

RMG is almost like a sure thing, the Ascent boys guarantee success  

Can't wait till monday to see what it turns out to be

Should add if this turns out to be U, SP will probably double, it will be like GBE was for me (bought it for no particular reason oher than U spec that hadn't run and it doubled in less than a week)


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## greggy (29 March 2007)

*Re: LBY - Liberty Gold*



YOUNG_TRADER said:


> Wow and just think I was not going to follow my gut, well certainly hope its u, its so funny how price and % movement can give away whats going on.
> 
> Greggy I wouldn't rate this the same as RMG, LBY is a stock I stumbled on because it was up 40-50% yesterday and was literally a dead shell just sitting there, so why the sudden buying I thought?
> 
> ...




Hi YT,

For your sake I hope its a U announcement.  With the limited number of shares this share could indeed have another strong run.  As for RMG, the threads gone a little quiet of late along with news from the company. This has given me time to build a good position.
Good luck for Monday.
DYOR


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## Sean K (2 April 2007)

*Re: LBY - Liberty Gold*

Well done YT. Once again, in just before a significant change in the sp.

Ann out, uranium project acquisition in Yilgarn Craton. 

Only 2 sellers on the board at almost double the last price...


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## Gundini (2 April 2007)

*Re: LBY - Liberty Gold*

Fabulous work YT, missed this one  

Congrats! You are on the ball...


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## YOUNG_TRADER (2 April 2007)

*Re: LBY - Liberty Gold*

I just got home bout 30mins ago, can't believe it,

I mean I suspected something was up with this shell, lol

The U projects actually look ok, 

I'm gonna hold for a little bit and see


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## Riesling (12 April 2007)

*Re: LBY - Liberty Gold*

looks like LBY has finished it's retrace and is headed back up.  director bought options today.


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## YOUNG_TRADER (18 April 2007)

*Re: LBY - Liberty Gold*

Wierd arbitrage going on, buyer paying 25c for stock but only 2c for options, since options are 20c opies wouldn't it make more sense to pay up to 4c per option and then convert = 24c cost per share than pay 25c per share on mkt


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## ta2693 (18 April 2007)

*Re: LBY - Liberty Gold*

This interesting phenomena also happened in mru and mruo. I have been told it is because of time lag of converting the option. I think it makes sense.


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## YOUNG_TRADER (19 April 2007)

*Re: LBY - Liberty Gold*



ta2693 said:


> This interesting phenomena also happened in mru and mruo. I have been told it is because of time lag of converting the option. I think it makes sense.




LBY rising

Fair point but look at it like this,

Say I want to take a position in LBY, do I 

a) Outlay now $27k to get 100k shares

b) Outlay now $4k to get 100k 20c options and then convert, total cost = $24k = $3k or 10%+ arbitrage

I know theres a delay, but I believe in the time value of money, ie while you hold your 100k opies you can use the balance $23k for something else


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## YOUNG_TRADER (19 April 2007)

*Re: LBY - Liberty Gold*

Someone was listening


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## ta2693 (19 April 2007)

*Re: LBY - Liberty Gold*



YOUNG_TRADER said:


> Someone was listening



The option holder is exposed to the risk of right issue so may be entitled to some discount.


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## nizar (20 April 2007)

*Re: LBY - Liberty Gold*



ta2693 said:


> The option holder is exposed to the risk of right issue so may be entitled to some discount.




Fair discount now.
Heads 29.5c.
Oppies 4.4c.


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## ta2693 (20 April 2007)

*Re: LBY - Liberty Gold*

An option seller just sell 250000 option. Why he did not convert it into shares and sell on share market? My explain 1 the guy need urgent money, not likely. 2 no money to convert. 3 most likely, he saw something is going wrong, he need to run.


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## Bushman (23 July 2008)

*Re: LBY - Liberty Resources*

An old specyy that has not received much press since the height of the uranium bubble. 

Announcement out today that they have diversified their interest away from uranium in WA (remember when that used to set the heart racing) to acquire some 'strongly prospective' tenements on the island of Flores in Indonesia. 

Why take note? Well - 
1. tenements are 'strongly prospective' for managanes mineralisation; 
2. Flores is an under explored managanese provence with similar geology to Woodie Woodie in WA (producing manganese mine); 
3. There are several small scale 'highly profitable' managenese mines within 12km of the tenements. 
4. One mine within 12km (see ASX release for name) has produced 250,000t of managenese ore grading +45% manganese. Equates to annual sales of USD 75m. 
5. Good terms of sale. Need to issue 10m shares to Singaporean owner, pay cash in tranches as various project stages are reached etc. 
6. Cash at end March quarter $4.6m. At current sp ($0.08 cps), fully dilutive market cap (inc 10m shares to be issued) is 70.4m shares * $0.08 cps = $5.63m. 

Thus, given cash for exploration has been raised, the E/V for manganes plus WA uranium prospects is $1m. Not much risk from here. If managenese is found, upside is huge IMO.


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## YOUNG_TRADER (23 July 2008)

*Re: LBY - Liberty Gold*

Hmmm the old Lyberty Bell dinging away, looks very interesting to say the least




60M Shares
$4.5m cash = 7.5c cash a share

Several small to moderate sized, highly profitable manganese mining operations have recently commenced on adjoining ground

One of these mines – PT Istindo – lies some 12 kilometres west of the Liberty
tenements. PT Istindo, together with PT Tribina, another recently commissioned mine in the region, have produced a total of 250,000 tonnes of high grade (>45%) manganese ore to date, at a combined annual production rate of approximately 120,000 tonne per annum. At current manganese prices of US$ 14/tonne per 1% manganese, this production equates to approximately US$ 75 million in annual sales revenue.



Crazy! a *120kt p.a. operation @ 45% Manganese = $75M in sales revenue!!!!!!!!!!!! *

Just the kind of Manganese exposure I need


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## Bushman (24 July 2008)

*Re: LBY - Liberty Gold*

Yep they are big numbers. Grades at +45% manganese is up there from my understanding. Remember grades quoted are from surrounding deposits, not the tenement that has been purchased. But at a mkt cap of $5m odd with cash on hand of $4.5m, it is not much of a punt IMO. 

The big problem is the sell side depth - there ain't anything there which is not surprising given it's low share price at the moment. Oppies have expired too. 

PS: my apologies for my atrocious spelling of manganese in the last post (not mananganese or manangenese!! ). It is a bit of a tongue twister when you are writing it in a hurry.


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## J.B.Nimble (25 July 2008)

*Re: LBY - Liberty Gold*

They have acquired the project for a song  - how they managed to pull that off is puzzling and the only worry that I would have. Does the seller know something they should know? 

The only significant costs they face are finding the manganese and getting the mining permit. Capex and opex will be minimal. They could even do it the pick and shovel way as I have seen before at a small mine in Indonesia. Even if mechanised the scale is so small that it will be cheap, cheap, cheap... The tenements are coastal and building a jetty will cost very little. Plenty of barging contractors around so no outlay there. If they find 45% manganese they will mint money...

Good to see that they have left the local interest with a 30% stake. That should help things to move along. Now all they have to do is find the manganese...


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## rod178 (18 October 2008)

*Re: LBY - Liberty Resources - Coal Gasification*

Have a look at the announcements on the coal gasification exploration tenements adjacent Linc Energy in the Surat Basin Qld. Possible huge upside, once the market settles, although still early days.


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## springhill (29 July 2009)

*LBY - Liberty Resources*

Formerly know as LBY- Liberty Gold, have moved into the UGC sector and have caught my eye with a couple of rather impressive announcements.

Firstly, an annoucement of a HOA agreement with Carbon Energy (CNX) to develop the 338 million tonne, inferred resource, in the Galilee basement. CNX will hold 80% of the JV and will be the operator. Coal resource is open in all directions and is expected to increase in size with further exploration.
http://www.asx.com.au/asxpdf/20090727/pdf/31jr4ztp13w29p.pdf

Secondly, LBY have *massive* land holdings across potential areas suitable for UGC, including holdings near or adjacent to CNX, LNC & Waratah Coal. Currently targeting an exploration *potential* of 280-350 *billion tonnes* of coal based on an independant study by Al Maynard & Assocs.
http://www.asx.com.au/asxpdf/20090729/pdf/31jsggssfvt5s0.pdf

These annoucements have seen price move from 7 cents to an intra-day high of 16.5 cents, closing at 15 cents at end of trade today. Exciting times, seems to have come from nowhere


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## YOUNG_TRADER (28 August 2009)

*Re: LBY - Liberty Resources*

Having enjoyed the wild ride on LBY from 10c down to 3c (thank god I averaged down got a large holding at 5c avg) when it was a gold/iron ore and uranium company


Anyhoo have been taking profits from the 15c-17c level and sold my last parcel today

How I love when a company moves into UCG

Works wonders for the share price


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## redsmartie (31 August 2009)

*Re: LBY - Liberty Resources*

LBYO September 2009 7.5 cent oppies look worth exercising, the last SPP was tricky, half now half later, in the end could be paid off. If you look at the chart, Liberty has a lot going for it, now it's time to sit back and watch the business. The aquisition of the Qld Energy Project done it, the uptrend has held through thick and thin, Liberty has fared well. :bier:


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## YOUNG_TRADER (2 September 2009)

*Re: LBY - Liberty Resources*



YOUNG_TRADER said:


> Having enjoyed the wild ride on LBY from 10c down to 3c (thank god I averaged down got a large holding at 5c avg) when it was a gold/iron ore and uranium company
> 
> 
> Anyhoo have been taking profits from the 15c-17c level and sold my last parcel today
> ...




And up she goes on a red day lol

Its like rubbing salt into a wound 

Still was a very good return but with hindsight should have hung onto some


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## Peanut (21 September 2009)

*Re: LBY - Liberty Resources*

Am I correct in interpretting this morning's announcement as being a tenfold increase in inferred thermal coal resources?  

Market hardly responded.  Interested to hear others thoughts


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## System (6 July 2015)

On July 2nd, 2015, Liberty Resources Limited (LBY) changed its name and ASX code to Cirrus Networks Holdings Limited (CNW).


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## verce (15 July 2015)

System said:


> On July 2nd, 2015, Liberty Resources Limited (LBY) changed its name and ASX code to Cirrus Networks Holdings Limited (CNW).




Worth keeping an eye on this one.

http://www.cirrusnetworks.com.au/investors/board-of-directors/

Stellar management.

http://www.cirrusnetworks.com.au/cirrus-expands-industry-portfolio-with-4-6m-in-new-contracts/

Very promising revenues, high growth, cashed up, customers from Government (Police) and private sector (Rio)


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## verce (15 July 2015)

Disclosure: Holding


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## adds4 (29 November 2015)

looks like finally cnw is getting a bit more attention, with a good spike in the share price lately. Whats worrying is it looks like its traders inspired, not on revenue and profit growth. Cnw is a company in transition, going from a low margin hardware and software operation, to higher margin managed services area. With nearly 3m of revenue (1m each for 3 years) signed up in the last 6 months in managed services, things are looking up. Getting status to tender for WA govt contracts is a real positive and hopefully in the next 6 months, cnw can jag a couple contracts. Cash burn is a little bit of a worry in the next couple quarters, but with 4m in the bank, there appears to be enough cash to use to expand the business significantly and get cashflow positive very quick.

Scaling up the business is key for cnw, so contact wins are important to spread the significant fixed costs the company currently has with its managed services start up


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## adds4 (3 December 2015)

buying L7 from vocus for 500k is an absolute steal. This should really turn cnw from a cash burn position to a position of cash generation, as indicated by the announcement. Wow, win a couple more contracts in the next few months, retain the existing ones, and cnw is well on its way to becoming an IT leader in the WA market, and with that scale and expertise, it should be a lot easier to buy or setup a commentary company in the eastern states, or SA and NT. Bed down this acquisition and the share price should be multiples of what it now, making it easier to buy the next acquisition.


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## skc (3 December 2015)

adds4 said:


> buying L7 from vocus for 500k is an absolute steal. This should really turn cnw from a cash burn position to a position of cash generation, as indicated by the announcement. Wow, win a couple more contracts in the next few months, retain the existing ones, and cnw is well on its way to becoming an IT leader in the WA market, and with that scale and expertise, it should be a lot easier to buy or setup a commentary company in the eastern states, or SA and NT. Bed down this acquisition and the share price should be multiples of what it now, making it easier to buy the next acquisition.




Very interesting this acquisition. The announcement noted that L7 was established by two of CNW's current board members, and sold to Amcom in 2011 for $15m. 4 years later they buy it back for $0.5m. Shades of Alan Bond and Channel 9, albeit at a much smaller scale.

Even though the margin is not great at L7 it provides a turnaround opportunity and adds scale to CNW. FY15 revenue for CNW was $14.9m, and in Sept they reported 41% growth YTD. L7 on the other hand has $28m in revenue. So all in all we are looking at a company with potentially $50m revenue for FY16. The market cap is only ~$25m. It would not need a heroic margin to justify a higher valuation.


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## Klogg (4 December 2015)

skc said:


> Even though the margin is not great at L7 it provides a turnaround opportunity and adds scale to CNW. FY15 revenue for CNW was $14.9m, and in Sept they reported 41% growth YTD. L7 on the other hand has $28m in revenue. So all in all we are looking at a company with potentially $50m revenue for FY16. The market cap is only ~$25m. It would not need a heroic margin to justify a higher valuation.




Interestingly, one of the directors was the founder of L7, who sold it to Amcom. One would think, given the experience, it would be difficult for their margins not to improve.
Theoretically (theory is always nice), any fixed costs could be reduced given the two companies operate in similar areas.


On another note - given CNW are focussing on Cloud/IaaS, BPF is a great comparison. Similarly, Kloud (privately owned) are growing like a weed in Melbourne performing the same AWS/Azure work. They would be hard-pressed NOT to increase revenues in this space.

(P.S. Microsoft have just hired another 8 Cloud Architects for their east coast in Azure over 3 months, and are about to hire some more. And these are just the guys who play with virtual crayons.... someone has to implement as well.)


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## adds4 (8 January 2016)

Reco there will be an update soon to show how things are progressing with the L7 acquisition and any additional contract wins?


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## VSntchr (29 January 2016)

Quarterly report out this afternoon has shown an improvement in cash receipts, posting $2.8m to give OCF at -$308k.
L7 acquisition only completed mid-December, so next quarter should should be much better again. Interesting one to watch.


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## greggles (23 April 2018)

Cirrus Networks Holdings up 57.14% to 2.2c this morning after releasing its Quarterly Activities Report.

The company remains cash flow positive and receipts are up. The Correct Communications acquisition has produced results with in excess of $2 million of new orders, including a number of Federal government agencies and public utilities. The acquisition of NGage has also contributed to the company's increase in revenue.


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## rcm617 (29 September 2018)

CNW announced yesterday they had finalised tranche 2 payment for Correct Communications, and added a footnote that Correct Communications was running 114.6% ahead of revenue in last years equivalent first two months. They also mentioned margins were significantly ahead as a result of increased service revenue. Should give us a good quarterly at the end of October.


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## rcm617 (30 December 2018)

Have now had four quarters with positive cashflows, with cumulative cash flow of $2.147 million. Revenue has been growing for a few years now, so if they can keep growing free cashflow and with a market cap of $14 million it is cheap. We will see with the quarterly coming up at the end of January.


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## rcm617 (31 January 2019)

My pick again for this month. Now five positive operating cashflow quarterlies with cumulative cashflow over the last four quarters of $2.29 million. Won a $5 million federal contract this month. The 3rd and 4th quarters have been the better quarters the last few years so should improve from here.


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## rcm617 (14 February 2019)

Finally starting to get a bit of traction. Market cap about $26 million and last FY profit of $2.8 million. Just needs to start showing a bit more consistency in their profit results.


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## rcm617 (22 February 2019)

Reported HY19 profit today, revenue grew at 57% and a profit of $135k compared to a loss for HY18. While still low profit margin pleasing aspect is the growth in services with the higher margins and their strong outlook for the second half. Last year despite the loss in the first half they still managed a $2.8m profit for the year.


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## greggles (26 April 2019)

Cirrus Networks up another 9.6% to 5.7c today. Very strong uptrend over the last few months. 

Curiously there has been no news of note since the H1 FY19 Report and Investor Presentation were released on 22 February.


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## mullokintyre (20 August 2021)

CNW has received a hostile takeover bid from Webcentral.
From CRN


> ASX-listed Webcentral is looking to completely overhaul the board of directors of Cirrus Networks as part of its planned takeover of the Perth-based MSP.
> 
> Webcentral is seeking to remove all but one of Cirrus’ directors, including managing director Matt Sullivan, and replace them with some of its executives. The only existing board member to be retained will be non-executive Paul Everingham.
> 
> ...



CNW  has rejected the hostile takeover.
I suspect that they may need to offer a little more.
There is a buy of over 760 million of the 900+ million shares  that make up the 26 mill company.
Latest prices at 3.4 cents.
Hasn't been a lot of action of late, looks like a stalemate.
Mick


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