Another Aussie, awesome. Welcome mate! Sounds like an interesting project.
Originally Posted by Islay Peat
Since you're planning on completing the aging process yourself there's no reason to spend money on already aged product and I'd be on the lookout for new whisky that hasn't been aged at all.
I'd be doing this too. In fact I know Nant Distillery (in Tasmania - one of their releases was recently rated very, very highly by Jim Murray) sell entire casks of new make (typically that they store themselves, but they might sell you one that you can keep yourself). Otherwise you could try the other Aussie distilleries - Lark, Hellyers Rd, Limeburners, Old Hobart, Tasmania Distillery etc...
I'd be cautious about keeping it for 40yrs though. Smaller barrels = more wood contact = faster "aging", and whilst 50L isn't small, it's smaller than the barrels most whiskies are aged in. Also, temperature has a lot to do with it. Not sure where in Australia you're from, but there aren't too many places here with Scottish-style weather.
I think it's a great idea, but I'd hate to see you end up with an undrinkable oak monster by the end.
Let us know how you go!