article out already..expect more press

given the fact that one of FMG's main men is getting involved here, i would expect a lot of press to come from the papers soon.






Newera Resources deals itself into gold sector with landmark acquisition of Kyrgyzstan gold projects
Tuesday, December 21, 2010 by John Phillips

To expand its mineral exploration to the democratic Republic of Kyrgyzstan in Central Asia, Newera Resources (ASX: NRU) has entered an option agreement for the acquisition of Posit Resources Australia Pty Ltd.

Posit has six advanced gold exploration projects within the Tien Shan Mineral Belt in Kyrgyzstan, along with three hard rock projects, one placer project and one large tailings retreatment project consisting of two large dumps, potentially helping with early cashflow.

Posit has granted Newera an exclusive option to purchase all the issued shares in Posit for a period of 45 days, and Newera will now conduct its due diligence.

Consideration for the acquisition is; Newera shares equivalent to A$5 million at a share price of $0.035.

Further consideration includes; Upon Newera achieving a JORC compliant indicated resource of 1 million ounces of gold from the acquired assets, Newera will issue shares to the value of A$1.5 million.

With a JORC 2 million gold ounce indicated resource, Newera will issue another A$1 million worth of shares.

With a JORC 3 million gold ounce indicated resource, Newera will issue another A$1 million worth of shares.

At completion of the acquisition, Newera will cause two current directors to retire and appoint the two Posit nominees, Graham Rowley and Stephen Blackman, to the board.

Rowley brings great experience as a non-executive director of Fortescue Metals Group (ASX: FMG), and will become non-executive chairman of Newera.

Newera said the combined financial resources of itself and Posit at completion should be sufficient to carry the operating costs into the second quarter of 2011.

Perth-based Subiaco Capital introduced the deal.