Ads will be a last resort.

In terms of an app, all the site needs is optimisation for mobile browsers. It needs to recognise a mobile browser and change the width/layout in order to suit them as the bbc website does etc.

If you did go down the app route there wouldn't be need for ads, once the app is made it doesn't cost anything more to maintain than the site does. Any phone that takes "apps" also has a perfectly adequate browser.

I use the site on my phone all the time, the only annoyance is having to zoom in/out all the time. Optimisation would solve that and it would be lovely.