Re-downloaded Mountain Lion but can't find in Applications??

We have 2 Mac's with Mountain Lion installed. After a power failure, my wife's Mac mini will not boot. It gets to the boot screen, then a bar graph opens & fills about 10-20% then shuts down.

Thought I'd try a boot disc to attempt a repair but needed to re-download Mountain Lion again. The download finished but I cannot find it in the Application folder. All I get is the install Mountain Lion icon on my desktop. Finder says it's in the Application Folder but I don't see it. It's somewhere but where?

Where is it or can I make a boot disc without it? I made a Lion DVD but hesitate to try that. Please help. Thanks.

You can use the same exact instructions for making a Mountain Lion boot|install disk or flash drive as you did for Lion. It's best, however, to do it using an 8 GB flash drive rather than fool with creating a double layer DVD.

Follow these instructions: LINK

I've downloaded but cannot find it in Application folder. All I get is the desktop installer - nothing in Application folder to create boot with, unless I can work with this...

The Desktop Installer IS what you want, it contains the necessary bits. Look at How to create a bootable, backup Mountain Lion install disk | Ars Technica for more details on the automatic and manual ways of creating a bootable disk.

Also, have you tried hold down CMD+r while powering up to get into the recovery partition of the Mac Mini to see if you can do what you need from there?

Thanks. I think I'm where I need to be without the boot disc. I was able to get to Disk Utility but now need to determine what might cause the mini not to boot. Just to select Macintosh HD & "Repair" or to re-install OSX.

"Verify" of Macintosh HD has stopped & recommends "Repair Disk". Processing now.

Both Fujisu & disk 1 checked OK.

Bad news. It says the HD cannot be repaired. Recommends backing up data, the reformat & restore backups.

Does that mean the HD needs replacing?

All is OK now. No need to make a boot disc. CMD+r while powering up to get into the recovery partition of the Mac Mini is all I needed.

HDD test proved where the issue was. Macintosh HD could not be verified or repaired. Had to erase & recover from Time Machine. Everything is up & running with minimum loss of data. Could of been much worse.

Thanks for helping chscag & Raz0rEdge!