Racing Victoria stewards announced the Moody-trained Lidari produced a positive test when finishing second in the Group One Turnbull Stakes at Flemington.
Officials recently agreed to a limit of 200 micrograms per litre in urine as traces can be found due to ingestion of feedstuffs that contain it.
A report posted on rv.racing.com read: “Racing Victoria Stewards have received a report from Racing Analytical Services Limited (RASL) confirming that a prohibited substance has been detected in a sample collected from the Peter Moody-trained racehorse, Lidari.
“The report relates to a post-race urine sample taken from Lidari when the horse finished second in the Turnbull Stakes over 2000 metres at Flemington Racecourse on Saturday, 4 October 2014.
“RASL reported that the urine sample contained Cobalt (an essential mineral nutrient which affects multiple body systems and is toxic at high dosages) at a concentration in excess of 200 micrograms per litre in urine which is a prohibited substance in accordance with the Rules of Racing.
“Racing Victoria Stewards have advised Mr Moody of the findings and they are continuing their investigation.”
Moody himself broke the news by releasing the following statement to the Australian media.
It read: “I am devastated to be informed by Racing Victoria Stewards that one of my horses has tested positive to a banned substance during the 2014 spring carnival.
“I have no knowledge or understanding as to how this could occur and will work with the Racing Victoria Integrity Services Department to bring this matter to a conclusion as soon as possible.
“I take great pride in my role in thoroughbred racing in Victoria and strive to manage my business and support my wonderful group of owners and staff with the highest levels of honesty and professionalism.”
Moody added: “I will continue to pursue this goal over the next few months and do everything possible to clear my name.
“In respect to the proceedings that will follow from this announcement, I will not be making any further comment until their conclusion.”