Palmer recently purchased a super resort in Coolum and according to reports he is looking for a way “to clone a dinosaur from DNA” to create a Jurassic Park. 

This isn’t his first unusual project as the controversial mining billionaire is already building a duplicate version of the Titanic, which will sail in 2016 from London to New York.

There has been a great deal of speculation surrounding the dinosaur project, as some suggests that Palmer has been in “deep discussion” with the same scientists who successfully cloned Dolly the Sheep back in 1996. 

The idea is rather outlandish and will officially be confirmed or denied at a press conference scheduled for this Friday.

Nevertheless, Palmer’s new beachfront hotel is set to include a casino, retail space, a monorail, a water park, an aquarium, a theme park and more. Stay tuned for further developments.