The Ben & JD Hayes-trained Excelida is racing for a potential trip to New Zealand when she lines up at Caulfield on Boxing Day.
The well-bred daughter of Exceed And Excel runs in the Allan Wicks Handicap (1400m) on Sunday and her performance will determine her immediate future.
Excelida is owned by Cambridge Stud proprietors Brendan and Jo Lindsay and there is consideration of the mare heading to New Zealand for a Group One race in February.
But if that fails to eventuate there are other black-type options in Melbourne that her Lindsay Park conditioners are considering.
Placed at Listed level and runner-up at Group Three level, a win at stakes level would be a significant boost for Excelida's future as a broodmare.
And a Group One win would enhance her value further before joining the prized Cambridge Stud broodmare band.
"We've got in the back of our mind heading over to New Zealand for a Group One, the BCD Group Sprint over 1400m at Te Rapa on February 12, but we'll have to see how she runs at home first," Ben Hayes said.
"If she come out and wins impressively, then we'll have a serious think about it.
"There's a Listed race over 1400m at Caulfield next month, but that depends on how she performs on Sunday and she will need to have good form to head over to New Zealand."
Excelida was successful at Flemington in September before running fourth in the Listed Black Pearl Stakes (1200m) at Geelong in October.
She has not been sighted since finishing second to Rich Hips in the Gr. 3 Hong Kong Jockey Club Stakes (1400m) at Flemington on Melbourne Cup Day.
Hayes explained there had been an attempt to get the mare in foal during the spring.
"But she just wasn't cycling," Hayes said.
"So, they have decided to race her on for another year, which is great for our stable and I think it's paid off as she had been racing very well."
Bred by Trelawney Stud in partnership with John and Di Struthers, Excelida is a daughter of Exceed and Excel and Lady Sayyida, an Iffraaj half-sister to multiple Group One winner and successful sire Ocean Park, and to the dam of the dual Group One winner and sire Grunt.