Stu, I totally disagree that it is of any concern. There are totally legitimate, totally legal supplements that will give an elevated Cobalt level. HRNSW's own testing that they have produced in court says as much. The question is the withholding period and if you regularly inject your horses with a product like Vam (that is totally legal) you can get elevated results above the 200. HRNSW only did this for 5 days on 5 horses and were able to get above the 200. As I stated in a deleted post as I layed it on a bit thick about the Chief Steward, the HKJC recommend a non race day limit of 2000 so the toxicity of the cobalt is quite frankly just trying to vilify Cobalt and justify the tough stance.
Therefore there is no doubt that it is difficult to get over the 200 level if you treat the horse outside the 24 hour window, however the testing done by HRNSW has only been done for a small sample for a small period of time who really knows what the truth is.