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Sydney - Friday - October 18: (RWE Australian Business News) - Exergen Pty Ltd and Mantle Mining Corporation Ltd (ASX:MNM) today announced a scoping study on their Bacchus Marsh coal joint venture had found the project was economically viable and would generate substantial local employment. It found that the project would generate an average of 900 direct construction jobs, peaking at 1300 in the Bacchus Marsh and Geelong areas, including 400 permanent jobs at the mine and 90 at an associated Continuous Hydro-Thermal Dewatering (CHTD) plant.

Sydney - Friday - October 18: (RWE Australian Business News) - Exergen Pty Ltd and Mantle Mining Corporation Ltd (ASX:MNM) today announced a scoping study on their Bacchus Marsh coal joint venture had found the project was economically viable and would generate substantial local employment. It found that the project would generate an average of 900 direct construction jobs, peaking at 1300 in the Bacchus Marsh and Geelong areas, including 400 permanent jobs at the mine and 90 at an associated Continuous Hydro-Thermal Dewatering (CHTD) plant.

We have been the beneficiaries of his business experience in Australia and internationally and his commitment to Origin during his term as a Director.

\"We have had a slow start and have significant issues in front of us; however, with a revitalised management team and a renewed sense of urgency, we are working to substantially improve the business,\" Mr [Trevor Bourne] said. \"This has led us to take a conservative view of profit recognition in that market,\" Mr Bourne noted. \"Whilst this will position the business for a sound future, we will incur costs to deliver the overhead reduction.\"

\"We have had a slow start and have significant issues in front of us; however, with a revitalised management team and a renewed sense of urgency, we are working to substantially improve the business,\" Mr [Trevor Bourne] said. \"This has led us to take a conservative view of profit recognition in that market,\" Mr Bourne noted. \"Whilst this will position the business for a sound future, we will incur costs to deliver the overhead reduction.\"

Mr [Trevor Bourne], of Port Talbot, Glamorgan, appeared in court in Denia, near Alicante, after his arrest by the Civil Guard. After giving a statement to the judge, he was released on bail. The detached houses were all put up around the village of Lliber between 1999 and 2003.

If the float had been fully subscribed, Global Ethanol would have had a market capitalisation of between $890 million and $1 billion, and aimed to establish itself in the US market before looking at other opportunities elsewhere in the world. Mr [Trevor Bourne] said before he left on the roadshow that the company wanted to eventually establish operations in Australia, but that conditions would have to change here before they would contemplate doing that. In the three weeks that Global Ethanol has been on its international roadshow the local scene has changed dramatically in response to rising petrol prices, with the federal Government considering a scheme to subsidise biofuels such as ethanol, and BP and Caltex offering cheaper ethanol-blended petrol.

Less than a month after unveiling the proposed float, chief executive Trevor Bourne described the cancellation as \"disappointing\" but said he still hoped to proceed with a listing since about 90 per cent of the stock had been reserved. He stressed that the firm's business plan for expansion of its US- based ethanol plants could still proceed with a private equity injection and continued backing from South African merchant bank Investec, the majority shareholder in Global Ethanol. Mr Bourne said he learned on a flight from San Francisco back to Australia that two key overseas investors had dramatically reduced their exposure to the company after being spooked by share market fluctuations, including this week's 30 per cent share price plunge of engineering group Downer EDI.

Less than a month after unveiling the proposed float, chief executive Trevor Bourne described the cancellation as \"disappointing\", but said he still hoped to proceed with a listing since about 90 per cent of the stock had been reserved. Mr Bourne said he learned on a flight from San Francisco to Brisbane that two key overseas investors had dramatically reduced their exposure to the company after being spooked by sharemarket fluctuations, including this week's 30 per cent share price plunge of engineering group Downer EDI. He denied reports that Investec had been unhappy with the price offered for the stock. \"They are keen to get the offer off. It's purely market-driven,\" Mr Bourne said. An Investec spokesman declined to comment.

If the float had been fully subscribed, Global Ethanol would have had a market capitalisation of between $890 million and $1 billion, and aimed to establish itself in the US market before looking at other opportunities elsewhere in the world. Mr [Trevor Bourne] said before he left on the roadshow that the company wanted to eventually establish operations in Australia, but that conditions would have to change here before they would contemplate doing that. In the three weeks that Global Ethanol has been on its international roadshow the local scene has changed dramatically in response to rising petrol prices, with the federal Government considering a scheme to subsidise biofuels such as ethanol, and BP and Caltex offering cheaper ethanol-blended petrol.