On July 10, 2004, at 1113 mountain daylight time, a Mooney M20S, N10059, piloted by an airline transport pilot, sustained substantial damage when it impacted terrain during a go-around at Four Corners Regional Airport (FMN), Farmington, New Mexico. Visual meteorological conditions prevailed at the time of the accident. The ferry flight was being conducted on a visual flight rules flight plan under the provisions of Title 14 CFR Part 91. The pilot sustained minor injuries. The cross-country flight originated at Santa Teresa, New Mexico, at approximately 0920. According to the report submitted by the pilot, he was the second airplane in a flight of two and he was number two for landing. During the base leg of the traffic pattern, he became concerned about separation between his airplane the airplane landing in front of him. As the airplane in front of him started to clear the runway, the pilot noticed that he "had allowed an excessive sink rate to develop" and the airplane had drifted to the right of the runway. He elected to go around. The pilot reported that during the go around, the airplane "was not able to accelerate or climb out of ground effect" and impacted the ground, collapsing the landing gear and bending the right wing spar. A postaccident examination of the airplane systems revealed no anomalies.