1 lb. peanuts
1 egg white
1 tsp. cold water
1 c. brown sugar
1/4 tsp. salt

Beat egg white and water until foamy; not stiff. Add peanuts and stir until they are well-coated. Combine sugar and salt. Pour this over the nuts and egg white mixture.

Bake at 225°F on a greased, tinfoil-lined cookie sheet. Stir every 15 minutes for 1 hour.