Exit Case: Energy Fuels Inc. 

Overview:

Energy Fuels Inc. (TSX: EFR) is the largest uranium producer in the U.S. and holds more production capacity and uranium resources than any other U.S. producer. The Company also produces vanadium. Headquartered in Colorado Energy Fuels holds three of Americas key uranium production centers: the White Mesa Mill in Utah the Nichols Ranch ISR Facility in Wyoming and the Alta Mesa ISR Facility in Texas. 

EFR has been a part of the ‘Growth Portfolio’ since 18^th August 2025, however, considering decent rally in the share price of the stock, an ‘Exit’ is recommended from the stock at the last closing price of CAD 17.00, as on 26^th August 2025.  

1.1 Support and Resistance Summary as provided in our last published report dated 18^th August 2025.

 Energy Fuels Inc.

2. New Entry Case: Mako Mining Corp. 

Overview:  

Mako Mining Corp. (TSXV: MKO) is a gold mining, development and exploration firm. The company is developing its high-grade San Albino gold project in Nueva Segovia, Nicaragua. Mako's primary objective is to bring San Albino into production quickly and efficiently while continuing the exploration of prospective targets in Nicaragua. 

Technical Analysis: On the daily chart, MKO prices are trading above the support level. Moreover, for the past couple of days the stock price is closing on a higher note indicating positive momentum. Additionally, prices are positioned above the 20-period Simple Moving Average (SMA), which could serve as a support level. The key support for stock is at CAD 5.45, while the critical resistance level is at CAD 7.20.

Considering the above mentioned factors, technical analysis, support & resistance levels, an ‘Entry’ is recommended in the ‘Growth Portfolio’ at the closing market price of CAD 6.23, as on 26^th August 2025. 

2.1 Support and Resistance Summary (as on 26^th August 2025)

2.2 Mako Mining Corp.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency as of 26^th August 2025). The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings.

Disclaimer

This information should not be relied upon as personal financial advice by Kalkine on (i) the stocks or (ii) the use or suitability of the model portfolios. Only an investor knows about their circumstances to make an investment decision.

Model Portfolio has been prepared for illustrative purpose only and does not take into account the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on the information, consider its appropriateness, having regard to their objectives, financial situation and needs. Past performance is not necessarily indicative of future performance results. Actual investment returns will vary, and the value of investments can go up or down.