Upstream Share Discussion Threads

[master rsi] 15/4/2024 22:04

DOW

Finishing 248 points lower...

U.S. stocks closed sharply lower on Monday, as an early lift from a strong retail sales report succumbed to a jump in Treasury yields and concerns about rising geopolitical tensions between Iran and Israel.

With the S&P 500 coming off its biggest one-day percentage drop since Jan. 31 in the prior session, stocks opened higher in part after data showed retail sales increased by more than expected in March.

The Dow Jones Industrial Average fell 248.13 points, or 0.65%, to 37,735.11,
the S&P 500 lost 61.59 points, or 1.20%, to 5,061.82
and the Nasdaq Composite lost 290.07 points, or 1.79%, to 15,885.02.

The S&P 500 is now down 2.64% over the past two sessions, it's biggest two-day drop since early March 2023. The index also closed below its 50-day moving average, a technical support level, for the first time since Nov. 2.

[master rsi] 15/4/2024 16:40

It seems this afternoon the Market was very volatile like something is going to happen

[master rsi] 15/4/2024 16:17

How the UPS are performing today

[master rsi] 15/4/2024 15:44

Gold: Overbought RSI to Spark Dip-Buying Opportunity Amid Geopolitical Tensions
Gold rebounded after Friday's bearish close but another correction cannot be ruled out.
Despite Friday's record high, gold faced selling pressure later, signaling possible short-term losses.
Traders eye key support levels, like Friday's low at $2333, amid overbought signals from the RSI.
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Gold managed to bounce back after Friday’s bearish close, albeit the positive moves in European stock markets and oil’s negative response to the weekend’s events point to reduced haven demand.

So, there is a risk that the yellow metal could turn lower and continue its sell-off that began on Friday, when its latest rally to a new all-time high was met with strong selling in the second half of the day, resulting in a bearish-looking price candle on Friday.

On Friday, gold breached the $2400 mark to hit a new all-time high of $ 2431 per ounce, as traders sought safety on reports of Iran's plans to attack Israel over the weekend, sparking demand for safe-haven assets. It then retreated by the session's end as technical signals suggested its rally had become overheated. However, the latest events in the Middle East reignited the flight to safety first thing on Monday’s session, with concerns about potential Israeli retaliation discouraging bearish bets on gold.

Still, after Friday’s bearish price action, we may well see this modest bounce fade as today’s session wears on. Should a downward correction materialize, it should be viewed as nothing more than a corrective action, likely attracting side-lined buyers at lower levels.

That is unless there's a significant shift in the US interest rate outlook or a sudden de-escalation in geopolitical tensions, neither of which appears imminent in the near future.

Gold technical analysis and trade ideas
Following Friday’s reversal-looking price action, when the metal dropped sharply after hitting a new record high, traders will be wondering whether more short-term losses could be on the way this week before we see fresh dip-buying again.

There hasn’t been any immediate downside follow-through so far in the day on Monday. But keep a close on $2333, Friday’s low, should we get there later on in the day.

A breach below this level, if sustained, could trigger further technical selling below it, potentially leading to a drop to support at $2300 initially ahead of $2270-80 area next, which corresponds with the convergence of the short-term bullish trend line and 21-day exponential moving average.

Gold’s long-term charts certainly look bullish, but there is no doubt that prices also appear overbought on multiple time frames. Thus, a bit of further weakness in the short term should not come as a surprise.

Last week saw gold trade above the 161.8% Fibonacci extension of the 2020-2022 downswing around $2360 to rise to a new record of $2431 by Friday.

The bearish close on Friday, though, is signaling caution for a potential reversal. Additionally, the Relative Strength Index (RSI), a momentum indicator, is at exceptionally high levels across various time frames, indicating overbought conditions.

These conditions can normalize over time. It can do so by simply maintaining around its current levels for several days without significantly retracing.

Such a scenario would be favorable for gold investors, given the metal's rapid price increase in recent days. The RSI’s overbought conditions can also be worked off through a sharp pullback.

Below the short-term support levels mentioned, a more significant area of potential support comes in around $2222, which resides in the area between $2195 to $2236. As per the weekly chart, this is where the most recent phase of the rally started a couple of weeks ago.

The next level on the downside would be the December high at $2146 and finally that long-term pivotal zone of $2075-$2081, which is now the most important long-term technical area on gold.

On all of the gold charts, one thing that is in common is the RSI indicator being in overbought territories. The daily RSI is at 72.0, while both weekly (78) and monthly (>70) RSI indicators are also at extreme levels.

Gold is therefore looking rather overbought, judging by the RSI indicator – in fact by almost any metric you employ. And following Friday’s bearish-looking price candle, I would favor looking for sell trades insofar as the short-term is concerned, even if my long-term view remains bullish.

Historically, whenever gold has surpassed the overbought threshold, particularly on long-term charts, it has typically been followed by a sell-off. While past trends don't guarantee future outcomes, the possibility of gold declining somewhat from its current levels can't be disregarded, especially considering its rapid rally.

However, any potential pullback in the near term might not signify the end of the longer-term upward trend. Instead, traders and investors who didn't get the opportunity to buy gold at lower prices are likely to use any dips as a chance to enter the market, once gold is no longer technically overbought. of undervalued stocks with the potential for significant upside in the market.

[master rsi] 15/4/2024 15:30

C4X Discovery shareholders approve of taking firm private

C4X Discovery Holdings PLC - Manchester, England-based drug discovery company - Shareholders pass all resolutions at general meeting, including resolution one: to cancel the admission of shares to trading on AIM in London, effective from the opening bell on Friday next week. Resolution one passes with 93% voting in favour and 6.9% voting against. Resolution two passes by a similar margin, meaning shareholders approve of C4X re-registering as a private limited company with the name C4X Discovery Holdings Ltd. This is expected to take place in the week beginning April 29.

In late March, C4X Discovery said it planned to delist from AIM in London, due to "the recent downturn in the financial markets" hampering its valuation. It also released its for the six months to January 31 at this time. The company swung to a GBP17.8 million pretax profit, following its GBP5.2 million loss in the first half of financial 2023. Revenue, meanwhile, soared to GBP24.6 million from GBP1.7 million.

Current stock price: 8.41 pence, down 6.6%

[master rsi] 15/4/2024 15:17

Suddenly all the Indices moved lower

OIL prices are much the same

and Gold and Bitcoin are following the same trend

[master rsi] 15/4/2024 14:33

DOW

Opening higher with 388 points

[master rsi] 15/4/2024 12:10

How the UPS are performing today

[master rsi] 15/4/2024 11:54

88 Energy hails second light oil discovery at Hickory-1

88 Energy Ltd - Alaska-focused oil exploration company - Makes second light oil discovery at Hickory-1 reservoir in Phoenix project, Alaska.
Says flow test demonstrates a peak flow rate of 50 barrels of oil per day of light oil. Managing Director Ashley Gilbert says: "Having now successfully demonstrated light oil flow from two reservoirs at Hickory-1 in recent weeks, it is clear that this is a significant milestone in the history of 88 Energy.

The USFS success represents the first time that we have successfully flowed oil to surface in Alaska - and under natural flow - as well as being the first time we have confirmed a light oil discovery of substantial scale in close proximity to the critical Dalton Highway and Trans-Alaskan pipeline system infrastructure.
To then achieve a second successful flow of light oil from the SMD-B reservoir, with a low gas/oil ratio, is an outstanding outcome for 88 Energy and its shareholders."

[master rsi] 15/4/2024 11:09

UPS

88E 0. 245p ( 0.24 v 0.25p )

News today and well mark- down on what it looks now oversold position on the chart. The bidding at the moment at Level 2 is 16M at 0.2475 v 5M at 24.99p, so well bid. Well oversold share price is under lower Bollinger Band and could be an Intraday Double Bottom.
----------------- Intraday ------------------------------------------ 2 months ------------------------------- 1 year -------------------
INDICATORS

[master rsi] 15/4/2024 10:53

CKT 22p (1p / 4.76%) / Checkit secures three contract wins, launches new product

(Sharecast News) - Software solutions firm Checkit said on Monday that it has secured new contract wins from two existing customers worth a minimum of £417,000 in total lifetime revenues over their three-year terms.

Checkit said it had signed a new contract with an integrated energy company to provide real-time operations management capability to 50 franchisees in the UK, worth roughly £252,000 over three years which will be installed in tranches over the course of FY25.

The AIM-listed group also signed contracts with a combined minimum value of £165,000 over their three year terms with a "multinational outsourced food service company" for the provision of its CAM and CWM products to end users in four additional locations. These new contracts follow on from three contracts signed at the end of last year.

Additionally, Checkit said it had launched a new product, Asset Intelligence, which applies advanced analytics and machine learning to IoT data which will help enhance customer sustainability, reduce costs, and improve revenue. Checkit said pre-launch trials had demonstrated "a positive impact" on energy consumption, asset lifecycle costs, and operational efficiency.

Chief executive Kit Kyte said: "The release of Asset Intelligence marks an exciting chapter in the evolution of our product offering and our integrated end-to-end platform. We expect Asset Intelligence to provide a strong catalyst for future software growth. Asset Intelligence demonstrates the power of Machine Learning on the proprietary data sets provided by our platform and sensor ecosystem, to deliver meaningful savings and sustainability benefits to our customers.

"The contracts won represent a positive start to FY25 and demonstrate the success of our 'land and expand' strategy. They have potential to be replicated globally."

[master rsi] 15/4/2024 10:20

CYAN 8.15 (0.40 / 5.16%%) / CyanConnode shares edge higher on latest module contract in India

(Alliance News) - CyanConnode Holdings PLC shares were up on Monday morning, after the company said it has won a new order that will enhance its footprint in the subcontinent.

CyanConnode is a Cambridge, England-based developer of narrowband radio frequency mesh networks. Its shares were up 2.4% to 7.94 pence each in London on Monday morning.

CyanConnode said it has received an order for 265,331 of its Omnimesh Modules from Madhyanchal One Infrastructure Private Ltd, a subsidiary of New Delhi-based IntelliSmart Infrastructure Private Ltd.

In addition to the modules, the order includes advanced metering infrastructure, standards-based hardware, services, omnimesh head-end software, a perpetual license, and an annual maintenance contract.

It explained that the order will support a new smart metering deployment for Madhyanchal Vidyut Vitaran Nigam Ltd, a utility located in Lucknow, India.

This is the fifth order received under a strategic framework agreement, which was signed in February last year.

[master rsi] 15/4/2024 09:47

88E 0.255p -0.055p / 88 Energy Limited - HICKORY-1 FLOW TEST - SECOND LIGHT OIL
DISCOVERY - Highlights

· Dual reservoir success at Hickory-1 with second light oil discovery at the SMD-B reservoir.

· Peak flow rate of ~50 barrels of oil per day (bopd) of light oil (measuring approx. 39-degree API oil gravity, under nitrogen lift).

· The SMD-B reservoir showed little to no measurable associated gas flow (low Gas-oil-Ratio (GoR), which validates the pre-test analysis.

· Hickory-1 has now delivered two successful oil flows and three independent discoveries:

- SMD-B (today's result): with a peak flow rate of ~50 bopd of light oil (measuring approx. 39-degree API oil gravity, under nitrogen lift).

- Upper SFS (USFS) (previously announced on 2 April 2024): with a peak flow rate of over 70 bopd of light oil (measuring approx. 40-degree API oil gravity, under natural flow).

- Both flow rates result from low volume stimulations over small 20ft perforated intervals in vertical well.

- Previously announced Basin Floor Fan (BFF) Gross Best Estimate (2C) Contingent Resource of 250 Million Barrels of Oil Equivalent (MMBOE) (refer 88E ASX release dated 6 November 2023)

· Quality and deliverability of both SMD-B and USFS demonstrated via oil production to surface with the USFS reservoir producing under natural flow - positively differentiating Hickory-1 from results on adjacent acreage.

· It is anticipated that these reservoirs will be developed from long horizontal production wells which typically produce at multiples of between 6 to 12 times higher than vertical wells. Project Phoenix also benefits from the ability to produce concurrently from multiple reservoirs in a single development scenario.

· Well testing results from the current field season confirm long-held views of the producibility of multiple reservoirs at Project Pheonix.

· As such, the Hickory-1 flow test results can be rightly characterised as in-line with those observed from equivalent reservoirs on adjacent acreage. Importantly, the performance of the USFS reservoir exceeded expectations, with the well flowing naturally with increasing oil cut.

· The results from the Hickory-1 flow tests permits an independent Contingent Resource assessment for both the SFS and SMD reservoirs; expected to be complete during 2H 2024.

· Project Phoenix JV to conduct post-test studies for integration into existing models allowing refined development planning for all reservoirs; studies to commence 2H 2024.

· Commercialisation options to be advanced in parallel, including farm-out to a strategic development partner and/or early, capital-lite production, given proximate infrastructure advantages (Hickory-1 next to Dalton Highway and Trans-Alaskan Pipeline System (TAPS)).

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to announce further successful flow test results from the Company's Hickory-1 discovery well, located in Project Phoenix on the North Slope of Alaska (88 Energy ~75% WI owner).

Managing Director, Ashley Gilbert, commented:

"Having now successfully demonstrated light oil flow from two reservoirs at Hickory-1 in recent weeks, it is clear that this is a significant milestone in the history of 88 Energy. The USFS success represents the first time that we have successfully flowed oil to surface in Alaska - and under natural flow - as well as being the first time we have confirmed a light oil discovery of substantial scale in close proximity to the critical Dalton Highway and Trans-Alaskan Pipeline System infrastructure. To then achieve a second successful flow of light oil from the SMD-B reservoir, with a low gas/oil ratio, is an outstanding outcome for 88 Energy and its shareholders.

The flowing of light oil from multiple reservoirs demonstrates the potential that this acreage holds for our shareholders, positioning the Company to grow and extract value from Project Phoenix via multiple potential development and commercialisation pathways. These include farm-out to a strategic partner in pursuit of a carry towards a development proposition and/or accelerated, capital-lite production given the highly development-friendly location of Hickory-1 within the North Slope. Development of these reservoirs is anticipated to be via long horizontal production wells, with numerous production analogues elsewhere demonstrating many multiple times the flow rates achieved from vertical wells.

Detailed evaluation of these development options, and pursuit of the optimal pathway, is the process that we are now set to undertake over the coming months. This work will be undertaken alongside the assessment of independent Contingent Resource declarations for the SFS and SMD reservoirs at Hickory-1, which will be additive to the BFF Contingent Resource previously declared. It is a busy and exciting time ahead for 88 Energy."

SMD-B flow test results; further detail

A 20ft perforated interval in the SMD-B reservoir was stimulated via a single fracture stage comprising 226,967 lbs of proppant volume. The well was cleaned-up and flowed for 84 hours in total, utilising nitrogen lift throughout the entire test period. The average fluid flow rate over the duration of the flow back period was approximately 445 bbls/d, with choke sizes ranging from 8/64ths to 33/64ths.

The SMD-B test produced at a peak estimated flow rate of ~50 bopd. Oil cuts varied throughout the flow back period, reaching a maximum of 10% oil cut. The well produced at an average oil cut of 4% following initial oil to surface, with instantaneous rates observed during the 16-hour period varying as the well cleaned up. Some 70% of stimulation fluid had been recovered at the conclusion of the test at which time water salinity measurements indicated that stimulation fluid was still being recovered and the well was still cleaning up. Oil cut would be expected to improve once stimulation fluid was fully recovered.

Multiple oil samples were recovered, with measured oil gravities of between 38.5 to 39.5 API, representing a light crude oil.

Importantly, the SMD-B zone flowed oil to surface with little to no measurable gas, representing a low GoR production rate. Pressurised oil samples collected during both the USFS and SMD tests will be transported to laboratories for further analysis.

The SMD-B flow test was concluded with sufficient information for the next steps, and the data recorded will assist 88E in optimisation and design processes in the next phase of advancement of Project Phoenix.

[master rsi] 15/4/2024 08:45

PageGroup falls as gross profit declines in subdued recruitment market
(Alliance News) - Shares in PageGroup PLC fell on Monday after the recruiter said the slow market conditions seen at the end of last year had continued into 2024.

PageGroup is a Weybridge, England-based recruitment company. Shares in the company fell 5.0% to 459.80 pence each in London on Monday morning.

PageGroup said gross profit in the three months to March fell 13% to GBP219.7 million from GBP263.0 million the year prior.

Chief Executive Nicholas Kirk said the slower end to the fourth quarter continued into the first quarter of 2024, particularly within continental Europe.

"Overall, activity levels remain strong, however we experienced a slight deterioration in job flow towards the end of the quarter."

"Conversion of final interviews to accepted offers is still the most significant challenge, as candidate and client sentiment remains subdued reflecting the general macro-economic uncertainty in most of our markets," he continued.

Kirk said permanent recruitment was more impacted than temporary across all markets, as clients continue to "seek more flexible options."

But while he anticipates a period of "low confidence levels, based on our current outlook," Kirk intends to hold fee earner headcount broadly at existing levels to "ensure we are well placed to take advantage of opportunities as sentiment and confidence improve."

PageGroup said it exited the quarter with March down 18% on 2023, "albeit this was against a tough comparator and was impacted by the reduced number of working days in March due to the timing of Easter."

PageGroup said gross profit fell 13% in Europe, the Middle East and Africa, by 5.5% in the Americas, by 16% in Asia Pacific and by 19% in the UK.

Trading conditions in Asia, the UK and the US saw no improvement with low levels of client and candidate confidence continuing to delay time to hire, particularly in permanent recruitment, the company stated.

PageGroup said as clients' recruitment budgets have tightened, they have become more "risk averse", which has slowed the recruitment process.

Salary levels remain strong, but offers made to candidates were not as elevated as they were in 2022 and early 2023, PageGroup added.

PageGroup will issue second quarter results on July 10.

[master rsi] 15/4/2024 08:30

BOOM 260p -45p / Q1 Trading Update and Final
11% revenue growth, continued EBITDA profitability and record Q1 eCPM and brand count

Audioboom (AIM: BOOM), the leading global podcast company, is delighted to provide a trading update for the quarter ended 31 March 2024.

Financial and operating highlights

· Q1 revenue of US$17.1 million, up 11% on Q1 2023 (US$15.4 million). The positive momentum of Q4 2023 has continued with the second successive quarter of year-on-year revenue growth Revenue growth has accelerated in this period (Q4 2023: 5% up on Q4 2022) and the Company expects further acceleration in revenue growth rate through upcoming quarters

· March revenue of US$6.7 million represented the highest revenue month for the Company since May 2022

· Q1 adjusted EBITDA(1) profit of US$0.1 million (Q1 2023: US$0.2 million), representing the second successive quarter of adjusted EBITDA profitability. With Q1 historically the seasonal low point for revenue and EBITDA, we expect EBITDA profit to expand in future quarters

· Record Q1 eCPM (average global revenue per 1,000 downloads) of US$52.17, up 27% (Q1 2023: US$41.13)

· Record Q1 average total brand advertiser count of 7,839, up 21% on Q1 2023 (6,498)

· Average Q1 global monthly downloads of 110.0 million, (Q1 2023: 125.2 million, Q4 2023: 110.1 million). Due to Apple's iOS17 update in September 2023, download numbers across the wider podcast industry have decreased by an average of 32%(2). Audioboom's Q1 year-on-year decrease of 12% significantly outperforms the market. We expect the impact of the iOS17 update to create more favourable long-term commercial conditions in the podcast industry due to the increased levels of return-on-investment that more accurate download data will deliver to advertisers

· Further restructuring of creator contracts resulting in more favourable revenue shares and more than US$5 million of Minimum Guarantee obligations being removed

· Group cash of US$3.1 million (31 December 2023: US$3.7 million) with a further US$1.8 million available via an undrawn overdraft

· The Company is confident it will achieve its revenue and adjusted EBITDA goals for 2024, and has made significant progress with contracted revenue of more than US$55 million for the year through advanced advertising bookings - more than US$8 million added since the January 2024 Trading Update

Key Q1 2024 commercial developments

· Record audience reach achieved in January 2024, with more than 38.6 million unique listeners consuming podcasts through the Audioboom platform

· Record revenue from Showcase, our global advertising marketplace, in March 2024 reflects the Company's continued progress in building key advertising technology

· Record advertising inventory levels, with more than 1.1 billion impressions being made available to customers in March 2024, a 10% increase on the previously announced record from October 2023 (1 billion)

· Audioboom climbed the February 2024 Triton Digital podcast ranker for audience reach, and is now the fourth biggest publisher in the US - the world's largest podcast market

· The expansion of Audioboom's executive team, with the hiring of Molly Harvey as Vice President of Brand Sales (formerly of SiriusXM and CBS Radio), and Shaun Wilson as Vice President of UK Sales (formerly of Spotify and Sony Entertainment). These roles will focus on the expansion of Audioboom's brand sales business

· Successful renewal of contracts with top tier podcasts in the Audioboom Creator Network, including The Tim Dillon Show, True Crime Obsessed, I Think Not, Crime Weekly, and Real Ghost Stories. These podcasts contribute more than 90 million downloads to the network on an annual basis

· Further expansion of the Audioboom Creator Network through the signing of new shows including: Pretty X Unfiltered, Soder, BDA with Katherine Schwarzenegger, Omnibus, Do We Know Them? and George Conway Explains It All To Sarah Longwell. These shows are expected to deliver more than 4 million downloads to the network each month

Stuart Last, CEO of Audioboom, commented:

"2024 has started exactly as we hoped with the positive momentum of the final quarter of last year continuing. We recorded our second successive period of year-on-year revenue growth and adjusted EBITDA profit as our recovery from the challenging market conditions of 2023 continued. Over this coming year I expect our revenue growth rate to improve further. We have more than US$55 million of contracted revenue for 2024 from advance advertising bookings, and we are perfectly positioned at this stage of the year to deliver our goals of record revenue and adjusted EBITDA profitability.

We have made investments in our sales operation, and I am very pleased to bring two highly skilled and experienced executives into the Audioboom team. Molly Harvey in the US and Shaun Wilson in the UK will focus on expanding our blue-chip brand customer base to drive revenue and continue the maturation of our podcast monetisation engine.

Other key initiatives within the Company - including the continued growth of our Showcase marketplace, accelerated ad inventory creation, the expansion of our brand platform Sonic, and the restructuring and renewal of podcaster contracts on more favourable terms - continued to progress well in Q1.

We also took our first steps in the utilisation of AI to generate advertising creative and translate content for international distribution, as well as expanding our work in monetising YouTube content. These are two areas I believe will provide significant opportunity for the business in the coming years.

Sentiment in the advertising industry continues to improve, which can be seen in our progress so far. The team at Audioboom are continuing to create strong value in our platform for creators and brands, and we all look forward to delivering a record 2024."

1) Earnings before interest, tax, depreciation, amortisation, share based payments, non-cash foreign exchange movements and material one-off items

2) Podnews analysis of Apple iOS17 impact utilising Triton Digital download data

---------------------------------------------

Final audited results for the year ended 31 December 2023

Audioboom (AIM: BOOM), the leading global podcast company, is pleased to announce its final audited results for the year ended 31 December 2023.

Financial and operating highlights

· 2023 revenue of US$65 million (2022: US$74.9 million)

· Annual adjusted EBITDA(1) loss of US$0.4 million (2022: US$3.6 million adjusted EBITDA profit)

· Average 2023 global monthly downloads of 121.9 million, up 4% on 2022 (117.1 million)

· Average 2023 monthly brand advertiser count of 7,727 up 47% on 2022 (5,257)

· 2023 eCPM (revenue per 1,000 downloads) of US$45 (2022: US$52.88)

· Group cash at year end of US$3.7 million (31 December 2022: US$8.1 million), with a further US$1.8 million available via an undrawn overdraft

· The Company anticipates record revenue in 2024 and a return to adjusted EBITDA profitability

· Q1 2024 trading update (announced today) details further revenue growth, adjusted EBITDA profitability and record Q1 eCPM and brand count

Key commercial developments

· Continued strong growth of Showcase, our global advertising marketplace. Revenue from Showcase in 2023 was more than 35% greater than in 2022 and is now contributing more than 23% to Group revenue (up from 15% in 2022)

· Positive development of our newly launched brand advertising unit, increasing our customer base with new early-stage commercial partnerships at 8 of the top 15 biggest US advertising agencies

· Expansion of our creator network through new tier one content partnerships, including Matt & Shane's Secret Podcast, The Why Files, The Broski Report, Heart Starts Pounding, Your Mom & Dad, Girls Next Level, Myths & Legends, and Out of the Pods

· Reduction of more than US$2 million of annual minimum guarantee obligations beginning 1 January 2024 through the successful re-structuring of creator partnerships, with further reductions to our minimum guarantee exposure expected throughout 2024

· Significant expansion of advertising inventory made available to customers, with October 2023 achieving the milestone of one billion available advertising impressions. Audioboom now creates more than eight advertising slots per episode download, positioning the Company to capture maximum available advertiser demand

· Successful launch of AdVet, a new proprietary tool for our creators that reduces advertising booking times by more than 60% and optimises Audioboom's win-rate of brand budgets

Post year-end highlights

· Record audience reach achieved in January 2024, with more than 38.6 million unique listeners consuming podcasts through the Audioboom platform

· Record revenue from Showcase, our global advertising marketplace, in March 2024 reflects the Company's continued progress in building key advertising technology

· Record advertising inventory levels, with more than 1.1 billion impressions being made available to customers in March 2024, a 10% increase on the previously announced record from October 2023 (1 billion)

· Audioboom climbed the February 2024 Triton Digital podcast ranker for audience reach, and is now the fourth biggest publisher in the US - the world's largest podcast market

· Audioboom achieved a record level of podcasts in the January 2024 Triton Digital podcast ranker, with the Company publishing 14 of the top 100 US shows

· Successful renewal of contracts with top tier podcasts in the Audioboom Creator Network, including The Tim Dillon Show, True Crime Obsessed, I Think Not, Crime Weekly, and Real Ghost Stories. These podcasts contribute more than 90 million downloads to the network on an annual basis

· Further expansion of the Audioboom Creator Network through the signing of new shows including: Pretty X Unfiltered, Soder, BDA with Katherine Schwarzenegger, Omnibus, Do We Know Them?, and George Conway Explains It All To Sarah Longwell. These shows are expected to deliver more than 4 million downloads to the network each month

· Reduction of a further US$3 million of annual minimum guarantee obligations through the successful re-structuring of creator partnerships

· The expansion of Audioboom's executive team, with the hiring of Molly Harvey as Vice President of Brand Sales (formerly of SiriusXM and CBS Radio), and Shaun Wilson as Vice President of UK Sales (formerly of Spotify and Sony Entertainment). These roles will focus on the expansion of Audioboom's brand sales business

· The Company has currently contracted revenue of more than US$55.0 million for 2024, through advance advertising bookings

[master rsi] 15/4/2024 08:12

FTSE

Opening lower with 29 points

[apotheki] 15/4/2024 07:23

KAVANGO RESOURCES PLC / LSE:KAV

ZIM: Hillside Prospect 4 Assay Results

ZIM: 29g/t gold intercepted over 2.5m at Hillside

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce the first assay results from the Hillside Prospect 4 gold project ("Prospect 4") in Matabeleland, southern Zimbabwe.

· Hole SKDD001 was a scoping hole sited to target mineralisation in a steeply dipping shear zone below artisanal workings (announced >>> 25 January 2024).

· SKDD001 was drilled to a total depth of 247.40 m and intersected the targeted shear zone being worked by the artisanal miners.

· Best results* in the hole include:

- 2.53 m @ 29.08 g/t gold from 97.47 m, associated with visible gold (average peak grade of 212.07 g/t over 0.34 m).

- 1.32 m @ 1.80 g/t gold from 214.46 m.

· The hole contains multiple further broad zones of geochemically anomalous gold values thought to relate to additional shear zones.

· An Induced Polarisation (IP) survey identified three further potential shear zones, parallel to the one being worked by artisanal miners.

· Results are pending on four other holes drilled across three other Hillside prospects.

· Kavango Mining to examine near surface gold mining potential at Prospect 4, based on intersected grades and ongoing artisanal mining in the area.

*All quoted thicknesses are apparent down hole intersection thicknesses

Ben Turney, Chief Executive of Kavango Resources, commented:

"This result far surpasses our expectations at Prospect 4.

Prospect 4 is our fourth-ranked target at Hillside. These results underline the Hillside Project's overall potential to host over 1 million ounces of mineable gold.

We sent the cores from Hole SKDD001 for immediate fire assay testing at a SADCAS accredited laboratory in Zimbabwe because of the visible gold. The near-term potential for possible mining at Prospect 4 was apparent as soon as we saw the core. We now need to test this potential with swift and methodical follow-up exploration. We are particularly looking forward to testing the additional three shear zones we believe we've identified here.

In terms of the results, we have pursued rigorous quality assurance and quality control. We also retested the high-grade gold zone.

We are delighted that the initial fire assays include one particularly significant gold intersection grading at 29.08 grams per tonne (g/t) over 2.53 m at a depth of 97.47 m. The secondary zone of 1.8 g/t over 1.32 m at 214 m depth is also encouraging. Given that we encountered anomalous gold throughout Hole SKDD001, we now need to return to Prospect 4 to assess further its commercial potential.

While we continue drilling at the Nara Project, we will send the SKDD001 pulps for multi-element testing at an internationally accredited laboratory in Johannesburg. We have confidence in the data we've published today and the tests in Johannesburg will help guide future drilling.

Having brought Kavango Mining into production in March, we are set up operationally to bring any new discovery into production with relative speed. While more drilling is needed to evaluate the scale of the opportunity, this is a highly promising start."