We people in Hayle are not going to let go now. We are going to get our regeneration

Jeremy Joslin, Hayle campaigner

Jeremy Joslin, a town campaigner, said Hayle subsided into decay.

The flame of hope was partly intended to to apply pressure for redevelopment to go ahead.

Mr Joslin said: "This is a visible symbol.

"We are tantalisingly close now and we are holding everyone to agreement.

"We people in Hayle are not going to let go now. We are going to get our regeneration."

A scheme for a marina, shops, cafes and hundreds of new homes was only recently withdrawn.

A new plan is expected to be submitted by the development company London & Amsterdam early in 2002.

A cost of around �150m has been quoted in the past.

Promoters have offered the prospect of 1,500 jobs coming to Hayle, which stands at the head of an estuary opening into St Ives Bay.

The flame was due to be lit on Monday evening by the head boy and head girl of Hayle Community School.

Mr Joslin said: "It is the school children who will benefit most from this.

"The youngsters will be able to stay in Hayle and work in Hayle."