In an enthralling extratime contest between two of sport's most intense rivals, the Aussie Sharks have fallen agonisingly short in the men's gold medal match going down 11-10 to the USA at the Water Polo Pan Pans in Melbourne.

Despite the frustrating loss, the Aussie Sharks have indicated they are on target for a high finish at the 2012 London Olympics, pushing the 2008 Beijing silver medallists' all the way in a front of a packed crowd at the Melbourne Sports and Aquatic Centre.

The US were all class leading at half time and at three-quarter time to stamp their authority on the match, before the Sharks showcased their bravery and never say die attitude to mount a fabulous come back and even the contest at full time.

Triple Olympian Thomas Whalan was a standout out for the Sharks scoring two last quarter goals to level the scores at 9-9 with two minutes thirty remaining. Richie Campbell was the other hero for the Aussie's netting three goals including one in extra-time.

For Whalan, although the loss was disappointing, the 31-year-old was upbeat about the team's progression and was eager to continue his journey towards his fourth Olympics.

"To get back into it with two important goals gave me a lot of confidence coming back into the team, but I am just so excited to be part of such a strong team unit now," Whalan said.

"I know myself, that I have a lot to improve on and I'm looking forward to improving even more.

"USA is a great team and even though we're not happy with the outcome in terms of losing, at this stage of the game as we look towards London we are working on processes and putting combinations together and I think we did that pretty well. We've obviously got a lot to do but we've got six month to do it.

"Absolutely this is the best Australian team I've played with. That's why I'm trying to get to my fourth Olympics because I believe in this team, i think its the best team we've had and I think it's my best chance to get onto that Olympic podium."
 
Meanwhile, in the bronze medal game, China defeated a gallant Brazilian outfit 11-7.

Australian Water Polo