Chileconcarne
You didn't make it this time but nothing to say you won't on the second attempt. If you are flying update your hours, if you are doing ATPL exams add that in to the application too. Give it 6 to 12 months and try again. I know of at least one person down in Adelaide that didn't get in first time and is now almost finished the CPP after applying again.
Good luck and stick at it!