This is a very good movie. Probably the best exponent of Argentina's animation. Technique wise it is not comparable to Disney, but taking into account the amount of animation that comes from Argentina, it is quite good. The first 10 or 20 minutes are a little boring, but after that, the story kicks into gear and is quite interesting and original.
The characters are fairly well developed (some a bit on the corny side), and the story has good rhythm. The structure is a bit Disney-esquire, specially the beginning. Reminds me a bit of Bambi. Plus, it is a real surprise when you find out why the king's horses keep disappearing. The climax is not that good, but there is enough content in the film to still work without that. The end is a bit disappointing, but overall a movie that will keep kids stuck to the screen, and will probably be enjoyable for adults.