Found growing at the same locality as the moss on the previous post, I'm guessing its a Leptopteris
Fungus is not often seen on Eucalyptus - this fungus was running all the way up the trunk. The bark on this species is not typical of the hardy species grown in the UK and may be something to do with the infection. Possibly it has less defence against attack perhaps because its not adapted to such a wet climate.
New Page added - Old photos but recently re-edited raws taken on a D700 a few years ago. A week long tour of the west coast and mountains of the south island during the month of November. New Zealand landscapes.