Oh, yeah. Looking good!
We had a horse at the barn where I work get a wound like that, right at the base of the hock. The vet didn't stitch it, they often don't do stitches on horses for some reason (depends on the nature and location of the wound, I'm told). I cold-hosed and medicated that thing for weeks before it finally finished healing, but it progressed much as this one has. Good job!