But, just as the 22-year-old appeared to have a firm grip on top spot, he dropped three shots over the next five holes and saw his lead dwindle to one shot.

At 10-under, Schwartzel leads by one from fellow South African Des Terblanche, who carded a 65 and Welshman Mark Pilkington, who shot nine-under through 16 holes.

Elsewhere, Nick O'Hern and Peter Lonard share the lead going into this morning's final round of the Australian PGA Championship O'Hern took advantage of sublime conditions at the Coolum course to sink nine birdies on his way to equalling the course record of 63.