30 Jan 2012 Quarterly Cashflow Report - December 2011

Appendix 5B Mining exploration entity quarterly report

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Appendix 5B Mining exploration entity quarterly report

Name of entity

Avenue Resources Limited

ABN Quarter ended ("current quarter")

12 143 303 388 Dec 2011 Consolidated statement of cash flows

Cash flows related to operating activities

1.1 Receipts from product sales and related debtors
1.2 Payments for
(a) exploration and evaluation
(b) development
(c) production
(d) administration
1.3 Dividends received
1.4 Interest and other items of a similar nature received
1.5 Interest and other costs of finance paid
1.6 Income taxes paid
1.7 Other

Net Operating Cash Flows

Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(119)	(160)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. net of costs 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. net of costs 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter	(119) 2,607	(160) 2,648
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter	2,488	2,488

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

Current quarter
$A'000
1.23 Aggregate amount of payments to the parties included in item 1.2 45
1.24 Aggregate amount of loans to the parties included in item 1.10
1.25 Explanation necessary for an understanding of the transactions
Director Fees, Legal fees, expense reimbursements, CFO assistance fees

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities
3.2 Credit standby arrangements

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Appendix 5B Mining exploration entity quarterly report Estimated cash outflows for next quarter

4.1 Exploration and evaluation
4.2 Development
4.3 Production
4.4 Administration

Total

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed
6.2 Interests in mining tenements acquired or increased

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Appendix 5B Mining exploration entity quarterly report Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

7.11 Debentures

(totals only)

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Appendix 5B Mining exploration entity quarterly report

7.12 Unsecured notes (totals only)

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act.

2 This statement does give a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 30 January 2012 (Director/Company secretary)

Print name: Jay Stephenson

Appendix 5B Page 5