Continue boiling for another 30 minutes, uncovered and stirring every 10 minutes or so.
Once ¾ of the water evaporates, reduce the flame to medium.
Continue stirring until the mixture is thick and syrupy and all peanuts are coated in caramelized sugar. This step should take no more than 10 minutes.
Drop about 2-3 tablespoons of peanut mixture onto a non stick baking tray.
Cooling
You may allow the peanut drops to sit at room temperature or place in the refrigerator for 10 minutes.