This spot is a short distance beyond the cliffs towards Nelson but it's the site of one of the most recent developments in the area. The fenced in device, with a solar panel on a pole nearby, was install around the same time that the new digital highway sign was built just down the road in Taghum. There's another sign like that on the other end of the bluffs in Beasley. The signs are used to warn drivers of dangerous road conditions, or to slow drivers down when there's an accident along the bluffs.
The cache is a rectangular lock'n'lock. No need to go down the bank at all.