Former world No 1 Tiger Woods’ return to form saw him finish third, two shots behind Greg Chalmers, who won the Australian Open after holding his nerve to finish 13 under par.
Woods after finishing with an impressive 67 in the second round he would have been regretting missed opportunities during his third round of 75 on Saturday.
Chalmers, a left-hander made five birdies in a closing round of 69 and edged out compatriot John Senden by a solitary stroke after the latter’s long birdie putt at the last curled just around the back of the hole.
The US golfer Woods chipped in from just off the fringe to trail Chalmers and Day by a single shot.
He then produced a stunning long-iron approach at the par-five 17th but could only manage a birdie to end his chances of earning his first victory in two years.
Chalmers restored his two-shot buffer with a brilliant birdie at the par-three 15th after knocking his tee shot close the pin.
The 38-year-old Chalmers then held his nerve with pars at the final three holes, including a fine up-and-down from the greenside bunker at the 18th, to ultimately secure the Stonehaven Cup, but not before more nervous moments as Senden birdied the penultimate hole and narrowly missed his birdie try at the 18th.
It was a superb fightback from Senden, who overcame a poor front nine that featured four bogeys to post four birdies on the back nine and finish level for the day.
Woods, meanwhile, heads to Melbourne for next week’s Presidents Cup still searching for that elusive tournament win.
Defending champion Geoff Ogilvy stormed home with a sizzling 65 to finish in a five-way tie for fourth place, while Adam Scott (68) was among the group of players at nine under.
American Nick Watney (72), Nick O’Hern (72) and Jason Day (74) equaled Scott’s 72-hole total after mediocre final rounds while Aaron Baddeley (69) and Ryan Haller (72) finished a further stroke back in a share of ninth.