During the financial year to 30 June 2005, the Company resolved...

During the financial year to 30 June 2005, the Company resolved not to pursue the Mossman Ethanol Project in North Queensland. The proposed Mossman Ethanol Project was planned as a joint venture with the Mossman Central Mill Limited using a feedstock of C-Molasses supplied from the Mossman sugar mill and other surrounding sugar mills. The Company considers that a sugar based development is not currently viable under current sugar industry structure and world industry economic outlook.