Lightly-raced stayer Vatuvei could be a Melbourne Cup horse but premier jockey Luke Nolen believes it won't be for another year.

The Peter Moody-trained four-year-old proved too good in Saturday's Group Two Drake International Cup, best known as the Moonee Valley Gold Cup, defeating Reuben Percival and Ironstein but is well down the Melbourne Cup order of entry.

Vatuvei, winner of the VRC St Leger last season, is 44th in the Cup order of entry with just 50kg and is unlikely to make the field even with a penalty.

"It might be a blessing because it will be great to see him with another season under his belt before he tackles the better stayers," Nolen said.

"He switched off well in behind the solid tempo and he was very convincing on the line.

"I think he is a stayer with nice quality but I'm thinking in 12 months time he'll be a lot better."

Any Cup penalty will be announced by Racing Victoria's chief handicapper Greg Carpenter on Monday.

Vatuvei ($13) came from back in the field during the run and tracked Precedence into the race before going on to have 1-1/2-lengths to spare over Reuben Percival ($9.50) with another two lengths to Ironstein ($5) in third.

Favourite Midas Touch ($4.20) covered ground early and raced on the speed but was a beaten horse on the home turn and finished eighth while international runner Ibicenco was seventh.

Gai Waterhouse said Reuben Percival would head to a 2800m race on the Melbourne Cup day undercard before going to the Sandown Cup.

Ironstein will be paid up for the Melbourne Cup.

"We'll still pay up for the Cup and if he doesn't get in he'll go to the Queen Elizabeth (Stakes)," trainer Gerald Ryan said.