In a medium saucepan over medium heat, melt the butter.

Add evaporated milk and granulated sugar; stir and bring to a slow boil.

Once it reaches a syrup-like consistency (about 5 minutes), stir in cocoa powder and simmer for another minute.

Remove from heat and allow the mixture to cool slightly.

In a large bowl, combine rolled oats and unsweetened coconut.

Pour the cooled chocolate mixture into the bowl and mix until thoroughly combined.

Cover and refrigerate for at least 1 hour.

Remove chilled mixture from fridge and scoop portions with a tablespoon.

Roll into balls and repeat until all dough is used.

Roll each ball in additional shredded coconut until fully coated.

Refrigerate in an airtight container for another hour.