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Makybe Diva gave birth to the foal at Coolmore Stud in the upper Hunter region of New South Wales north of Sydney.

The supermare is the only Australian racehorse to have won the Melbourne Cup in three consecutive years (2003, 2004, 2005), retiring after the 2005 race to indelibly imprint her achievements in racing's history books.

The young colt is yet to be named. If placed on the market, it is likely to sell at A$5 to A$6 million, about double the current Australian record.

The colt's sire, Galileo, whose optimum distance was 2000 metres to a mile and a half, was a Derby winner whose father is said to be the leading stallion in the world.

The Melbourne Cup is run over 3200 metres at Melbourne's Flemington racecourse.

source About.com:Australia/new zuland

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