After 40 years as a leading breeding operation, Jim O'Connor's Milluna Stud yesterday dispersed it stock at One Tree Hill in South Australia. The auction was conducted by William Inglis & Son.A total of 123 horses sold for $1,090,300, an average of $8,964.23. There were three lots listed as out.A King's Best colt from the stakes producing mare Flying Bron topped the weanling division at $50,000, sold to William Inglis as agent for a New Zealand client. The powerful bay colt is a half-brother to stakes winning Mint Of Gold and stakes placed Another Gem. The imported mare La Linotte topped the broodmares at $60,000, purchased by Inglis as agent. The mare was not covered last season.After 40 years in the breeding industry, O'Connor made the decision to retire from the commercial breeding world and completely disperse his famed Milluna Stud. Milluna Stud has been one of Australia's leading nurseries for many years. It has been home to eight leading first season sires in South Australia, including the Australian leading freshman sire of 1996/97, Made Of Gold. Milluna was also home to Australia's leading sire of 1985/86 and 1986/87, Twig Moss, whose great success has continued as a broodmare sire. Red Rumour in the late 60s, Exalt in the 70s, and New Regent in the early 80s all helped establish Milluna as a leader in its field.