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Fungus or lichen? At first I would have said this is a crustose variety of lichen (paint-like and flat), but now I'm not so sure. Each tiny orange blob appears to have pores, and on the surface of the bark beneath each blob is a smooth green substance that looks like resin. With age, the orange coloured blobs becomes darker to the point of turning black, and the base green darkens too. Darker growths are the same species because the orange blobs are still visible, particularly around the perimeter. These growths were not visible on any other species of tree. Any suggestions?
Found along the lake's edge of the Enoggera Reservoir, on the Araucaria Track. Growing on Coachwood (Ceratopetalum apetalum), a native hardwood. Well-shaded area with only filtered light. This section of the reserve was reasonably damp.
Parmotrema Lichen growing alongside this spotting on the same trees - http://www.projectnoah.org/spottings/359... Here's a link which explains the various types of lichens, particularly their morphology and structure - http://en.wikipedia.org/wiki/Lichen Potential species - Caloplaca sp. (Firedot lichen) - Pyrenula macrospora