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Enter Symbol
or Name
USA
CA



Quest Rare Minerals Ltd
Symbol QRM
Shares Issued 86,429,011
Close 2016-11-18 C$ 0.12
Market Cap C$ 10,371,481
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FP says Quest Rare has plans for blimp-like airships

2016-11-21 09:26 ET - In the News

The Financial Post reports in its Monday edition that Quest Rare Minerals plans to use a fleet of seven of the blimp-like airships to transport materials to and from its Strange Lake mine near the Quebec-Labrador border. The Post's Kristine Owram writes that the hybrid airship made by Lockheed Martin can land virtually anywhere for a fraction of the cost of a regular airplane. Once the mine is up and running, Quest will also use the helium-filled airships to transport ore out of the mine as far as the town of Schefferville, Que., where it can be loaded onto railcars. Lockheed Martin is forecasting its airships will receive certification from Transport Canada near the end of 2018, and first commercial deliveries will begin in 2019. This jibes well with Quest's schedule -- the company plans to ship its first rare-earth minerals in 2019. Once certification is complete, Hybrid Enterprises, Lockheed's exclusive reseller, will deliver the $40-million airships to Straightline Aviation, which will then operate them on Quest's behalf in an $850-million deal. Straightline's Mark Dorey the airships can unlock the economic potential of Northern Canada without the environmental impact of traditional transport options.

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