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Northland Capital Partners View on the City Sunrise Resources and Audioboom

Last updated: 09:08 20 Apr 2015 BST, First published: 08:08 20 Apr 2015 BST

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Sunrise Resources (LON:SRES) – CORP: Placing

Market Cap: £1.45m; Current Price: 0.25p

  • Additional exploration funds
  • Placing to raise £210k at 0.2p/share. The additional funds will be applied to the exploration of the Company’s projects in Australia and Nevada and general working capital purposes. 
  • Northland Capital Partners acts as Nomad and Broker to Sunrise Resources.

NORTHLAND CAPITAL PARTNERS VIEW: A positive development from Sunrise Resources with the additional funds raised from this placing to be used to continue exploration at its Nevada and Australian based projects, as well as for working capital.

 

Audioboom (LON:BOOM) – Update

Market Cap: £40m; Current Price: 7.5p

March KPIs

  • More than 2,400 active content partners (posted content in the previous week) by the end of March – c. 4,000 in total. 
  • More than 3.6m registered users with 200,000 signing up in March, a monthly record. 244,000 mobile app installs (113,000 iOS and 131,000 Android) – a record with the March number equivalent to c. 50% of all installs to date. Monthly active uniques (MAUs), people accessing Audioboom content via the web site, apps and content players, of 22.8m.
  • Advertisers include McDonalds, Burger King, Holden Australia (part of GM), Walmart and Progressive Insurance.

NORTHLAND CAPITAL PARTNERS VIEW: The KPIs at Audioboom are heading in the right direction and there has been high profile newsflow with the content partnership with Russell Brand and the appointment of Nick Candy to the board as well as the launch of the Android app. The next step is to translate this into meaningful revenue. Revenue in FY14 (11months) amounted to £51k including £25k from advertising. For the current year this is expected to increase to £3m though losses are also expected to increase to reflect the heavy investment in sales and marketing. The business is reasonably funded following October’s £8m placing. The shares have settled after last year’s euphoria but still assume very strong execution. 

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