Yes you can re-submit a reserved or rejected project in the next call of application. Make sure to revise it well, in order to increase your chances the second time round.
Yes, you will receive a summary giving you brief points of the reasons why you lost marks.
When a project is put on the reserved list it means it still passed but there were other projects who scored a better mark and together, used up all the budget. Thus, for a project to be moved from the reserved list onto the awarded list, one of the originally awarded projects has to fall through.
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