If they asked you to re-apply, then they probably mean it. (As opposed to sending out the "Thank you for considering us, however at this time we are unable to accomodate any other requests for employment with Pinnacle. We wish you luck in your job search and future endevours" letter).
There are plenty of people that get hired the second time around (at numerous companies, not just PCL). That said, when you interview the second time around, they are going to know that you didn't make it the first time (because you check that little box that says have you applied for any positions in the past).
So it's VERY important that you are at the top of your game and cross all your T's and dot your I's for the second go around.
Don't feel too bad about the first round- it sucks, but happens more than you think. Take it as a learning experience and don't do it again. If you ever have any doubt about an application or requirements or what you need to bring to an interview, don't hesitate to call and ask! HR won't penalize you for a question here or there (of course if you call 24/7 they might... but not for 1 or 2 calls).
You'd be amazed with how many people get disqualified during an interview for paperwork problems or not being prepared for the interview (IE didn't bring logbooks or fill out application, or something). At ACA not having your stuff or filling out the application correctly was an immediate "thanks but no thanks" letter.