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Close to the top of Mount Stromlo, easily obtainable on foot or mountain bike
Located with nice views across Canberra. For those into photography, take your camera with you at sunrise / sunset.
Cache is a clear plastic round container, big enough for most swaps.
FTF honours went to mtrax.
(update: due to popular agreement from the logs, I've changed this listing to be "small" rather than "regular").
(No hints available.)