A new location for this moth. Strange I hadn't noticed it before this year but am now seeing it everywhere. Still trying to raise one to adulthood but still struggling with what it is eating.
Yes, I think algae is correct. I've only ever found them on the trunks of quite tall eucalypt trees with no low leaves. I don't know my eucalypts but the trunks are always white(ish) and the same trees on which I find two-tailed spiders.