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ABS CPI falls 1.9% in June quarter, largest quarterly fall in the 72 year | ASX Market Update

  • July 29, 2020 08:26 PM AEST
  • Team Kalkine

QEM Limited (ASX: QEM), the unique Vanadium and Oil shale explorer, released the Activities update for the June quarter. During the quarter, QEM effectively managed the COVID-19 environment and progressed on its flagship Julia Creek vanadium and oil shale project. An extensive oil extraction testing was conducted during the June quarter, the test results announced excellent oil yield recently in July. During the quarter, QEM closely coordinated with the Queensland Resource Council (QRC), to effectively mitigate the impact of the pandemic. QEM also received an R&D cashback on the expenditures totalling to $205,000 made towards the progress of the Julia Creek project. Any cash backs would be used for working capital purposes.

As per ABS, CPI fell 1.9% in June2020 quarter, largest quarterly drop in 72-year history of CPI. Annual inflation was -0.3% in this year to June 2020. Details include:

The largest drag on prices was free childcare which dropped by 95% accompanied by a fall in fuel prices and education costs of 3% and 16.2% respectively.

Free pre-school in NSW, Victoria and Queensland also contributed to the drop in CPI.

Bruce Hockman, Chief Economist of ABS stated that CPI would have risen by 0.1% in the June quarter if the three components mentioned above were excluded.

K2fly Limited (ASX: K2F) reports an increase in invoices by 60 per cent for FY20 and 28 per cent for Q4 FY20. K2F's Saas ARR is now AUD 2.36M with a CAGR of 177 per cent, and TCV is AUD 7.47M, CAGR of 663 per cent.

K2F's cash flow is positive from Q4 FY20 operations, and it stood at AUD 0.7M.

RCubed solution going strong, added more clients in Q4.

On 30 June cash deposits at the bank were AUD 2.9M with AUD 1.13M in receivables, no debt.

Q4 reported an excess of AUD 500k net new ARR revenues.

#ASX #K2F #QEM #Kalkine



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