1. Exit Case: Jaguar Mining Inc. 

Overview:

Jaguar Mining Inc. (TSX: JAG) is a Canadian-listed junior gold mining, development and exploration company operating in the Iron Quadrangle, a prolific greenstone belt located in Minas Gerais, Brazil. Jaguar owns three gold mining complexes, and a large land package with significant upside exploration potential.

JAG has been a part of the ‘Value Portfolio’ since 22 Oct 2025, however, considering a decent rally in the share price of the stock, an ‘Exit’ is recommended from the stock at the price of CAD 7.32, (as on 1^st December 2025).

1.1 Support and Resistance Summary as provided in our last published report dated 22 Oct 2025.

Jaguar Mining Inc.

2. New Entry Case: AtkinsRéalis Group Inc. 

Overview:  

AtkinsRéalis Group Inc. (TSX: ATRL) is a professional services, and project management company. It delivers end-to-end services across the whole life cycle of an asset including consulting, and advisory and environmental services. Its segments include Engineering Services; Nuclear; O&M; Linxon; LSTK Projects, and Capital. 

Technical Analysis: The chart shows early signs of bullish stabilization as price holds support near CAD 88 and begins to flatten after a prolonged decline. RSI is turning upward from oversold territory, hinting at strengthening momentum. A break above the 14-day moving average could confirm a short-term trend reversal and attract renewed buying interest. The key support for stock is at CAD 76.2, while the critical resistance level is at CAD 100.5.

Considering the above mentioned factors, technical analysis, support & resistance levels, an ‘Entry’ is recommended in the ‘Value Portfolio’ at the closing market price of CAD 88.09, as on (as on 1^st December 2025). 

AtkinsRéalis Group Inc. (TSX: ATRL) has been identified as the new entry to our Value Portfolio.

2.1 Support and Resistance Summary (as on 1^st December 2025)

2.2 AtkinsRéalis Group Inc.

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 1^st December 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.