In a large bowl, stir together rolled oats, coconut, cocoa and chocolate chips. Dollop peanut butter on top of mixture and set aside.
In a large microwave bowl, add shortening, sugar and milk (mixture will triple in size when it boils). Microwave on HIGH for 3 minutes. Stir; then return to microwave for 3 more minutes. Sugar mixture should be very bubbly when removed from microwave. Add vanilla. Stir well.
Pour sugar mixture into dry ingredients and stir quickly to blend until moist. Quickly spoon up rounds of chocolate mixture and drop onto cookie sheets lined with waxed paper. Cool and serve once cookies have set. Store in an airtight container.
Yield: 4 dozen cookies or more, depending on size
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