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Cash cost / equivalent refined Pt ozCash cost / Equivalent Pt oz refinedR / Pt oz9,0008,0007,0006,0005,0004,0003,0002,0001,00002002 2003 2004 H1 05Cash cost / Pt oz 6,598 8,057 7,515 7,283• Lower platinum content of Modikwa ore results in higher unitcost per Pt oz, comparable cost per PGM oz