Victorian stewards have tested and rejected trainer Peter Moody's theory on how Lidari might have returned an elevated level of cobalt after running second in the Turnbull Stakes.

Moody was charged on Friday after stewards investigated possible causes of the level which was 380 micrograms per litre of urine in one test and 410mcg/L in a second.

The high-profile trainer of retired unbeaten champion Black Caviar joins Mark Kavanagh, Danny O'Brien and the Lee and Shannon Hope partnership facing charges in Victoria over the use of cobalt.

Dr Tom Brennan, a partner in the Flemington Equine Clinic has been charged in both NSW and Victoria.

"We've done a pretty exhaustive investigation, including testing some of the explanations that may have caused this," Bailey told Melbourne radio RSN.

"That hasn't given us the answers that would support these elevated levels, hence the charges.

"Mr Moody had given us an explanation as to what may have caused it and we did some trials and tests on that substance that was being used and it just took longer than the others to complete.

"He was using a powder that contained some cobalt for treatment for a horse's hooves. That trial test has been done and those results don't explain these levels.

"This substance is excreted out of the horse very quickly. It's out of the horse's system in a matter of hours.

"The scenarios are either they've received large doses prior to raceday or received raceday treatment."

Sydney trainer Sam Kavanagh, the son of Mark, will answer 24 charges relating to cobalt use when his hearing resumes on July 20.

In evidence so far tendered to the Racing NSW inquiry, Sam Kavanagh has named Brennan as the supplier of a bottle labelled "Vitamin Complex" which contained cobalt.

A heavy metal salt, cobalt occurs naturally in horses and other animals but can be toxic at high levels when introduced as a blood booster.

Victoria put a 200mcg/L threshold in place in April 2014, a standard adopted nationally on January 1 this year.