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Amongst the exploration-stage gold stocks, two reasonable candidates for accumulation near current prices are Metallic Ventures (TSX: MVG) and Canarc Resource (TSX: CCM). Both of these companies have reputable management and have market capitalisations that are very low relative to their in-ground gold resources. For example, MVG has 5M ounces of measured-and-indicated (M&I) resources in Nevada and has a market cap of slightly less than US$100M at Friday's closing price of C$2.06. In other words, the stock market is valuing MVG's M&I resources at less than US$20/ounce. And Canarc is potentially even cheaper, although it is yet to calculate an M&I resource at its Benzdorp project in Suriname.

Also of significance, neither stock is extended from a technical perspective (see charts below).

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