Like you said, she needs a lot of condition. Not just muscle but some fat. I'm assuming you're in winter in NZ now, so I won't comment on her haircoat like I would if you were in the US! Really overall nice mare. I'm a big fan of her front end: good shoulder, solid bone. The length of her back and angle of her hip are also nice, but look at the dip in muscling behind her wither and her camped-out stance. Something tells me she has either back or stifle pain, or both. Other than that, her hocks are rather straight.