Proactive Investor's  Instablog

Mineral explorer Frontier Rare Earths Limited (TSE:FRO) said Friday that is has appointed Tracy Weslosky as an advisory board director.

Weslosky, an entrepreneur and corporate professional with over 20 years’ experience, is the founder, publisher and editor of the Rare Metal Blog and is the chairman for the Rare Earth Element World Advisory Board.

Her past experience includes working in natural resources, energy, investment banking and technology sectors.

"I have been impressed by the way Frontier has developed its business over recent years and think it is an exciting time to join the Frontier team," said Weslosky.

"Following the recent announcement of a strategic partnership with Korea Resources to jointly develop the Zandkopsdrift rare earth project Frontier is now very well positioned to be one of the early new rare earth producers."

On Wednesday, Frontier announced that it signed an initial deal with state-backed Korea Resources Corp. to speed up the development of its Zandkopsdrift rare earth project in South Africa.

According to the non-binding agreement, Kores will acquire up to 20% interest in Zandkopsdrift as well as up to 10% interest in Frontier, and the right to purchase 40% of the mine’s rare earth production. A definitive deal is expected in the fourth quarter.

Frontier Rare Earths is a mineral exploration and development company focused on the development of rare earths projects in Southern Africa. Its flagship asset is the Zandkopsdrift rare earth project, which is situated in the Northern Cape Province of South Africa and is one of the largest undeveloped rare earth deposits in the world – Frontier holds a 95% economic interest in the property.