I posted a video on this a way back and today it’s arrived. Here’s the rather brief app description:
KoalaSAN allows people to broadcast to Icecast 2 servers in few steps. It can capture the device internal microphone and supports AudioBus (so you can use other applications as a sound source).
It supports Ogg Vorbis and Opus audio codecs.
KoalaSAN can also save your audio stream on the fly, which you will be able to transfer via iTunes or on your Dropbox account.