Point made but..... 

As I am sure you know Boeing does not make steel...so therfore they would not need direct access to the element. Boeing would not care where the cobalt comes from. Thier suppliers may care though But your point is well made. There is an underlying "fear" about supply.

I prefer not to invest in fear because it ebbs and flows like the sea. Rather I look more at the overall fundamentals. Remember the U.S. only accounts for 20% of world demand....Once again when it comes to commodities we must look overseas to really understand where the price support for cobalt is. Then we must try and and find the lowest cost current or near producer. If we only look at one part of the puzzle we will fail to identify risks. For example; As the cost of fuel increases so does trucking costs wich are far higher in an open pit operation as opposed to a underground/shaft type operation.

 Just some rambling thoughts....

Cheers

Fish