WI : The Republic of the North-East of Victoria

So supposedly Ned Kelly, was trying to form a Republic with his robberies being a method of funding the movement, and there was supposedly a Declaration of the Republic of the North-East of Victoria in his pocket when he was captured. Assuming this is true, and Ned gains support for the movement how far do you imagine it would go. Is it possible for it to become a reality and how would a Republic with Ned Kelly at it's head even look?
 
It'd probably last about a month at the most before being put down by the troopers. And in the meantime Kelly and his gang would basically rule the place like warlords.
 
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