Preheat oven to 350 degrees. Place the nuts on a large baking sheet in a single layer. Toast in the oven until nuts are fragrant, approximately 13- 15 minutes. Watch them carefully, they will go from perfectly roasted to burnt in just about a minute. While the nuts are roasting, combine the sugar, salt and cayenne in a small bowl and set aside.

In a large COLD saucepan, combine the honey, water and oil. When the almonds come out of the oven, set them aside for a minute. Bring the saucepan to a boil and then reduce the heat to low. Add roasted almonds and cook; stirring every so often, until all the liquid has evaporated and the honey has thoroughly coated the almonds. This should take less than 5 minutes. The almonds should be shiny at this point.

Sprinkle the sugar mixture over the coated almonds, a few tablespoons at a time. Stir well between each addition. Once all of the sugar is combined with the nuts, toss to combine thoroughly. Spread the warm almonds in a single layer on top of parchment paper or a silpat mat to cool. Use a couple of forks or your fingers to separate the still warm almonds if they clump together while they are cooling.

Store in an airtight container. Enjoy!