Hudbay Announces Significant New Discovery at its Copper World Properties Adjacent to Rosemont

• Drill hole #035A intersected 500 feet of0.82% copper starting at surface
• Drill hole #012 intersected 246feet of0.70% copper starting at surface
• Drill hole #011 intersected 440feet of1.38% copper
• All new intersections are on Hudbay’s wholly-owned private land
Toronto, Ontario – Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE:HBM) today announced the intersection of high grade copper sulphide and oxide mineralization at shallow depth on its wholly-owned patented mining claim s located within seven kilometres of its Rosemont Copper project in Arizona.The drill program was initiated in 2020 to confirm historical drilling in this past-producing copper region formerly known as Helvetia. After receiving encouraging initial results, the company launched a larger drill program in early 2021 and has since doubled the number of drill rigs at site to six to further test the four known deposits at Copper World and the potential for additional mineralization.
“This new discovery on our private land in Arizona demonstrates our team’s strong expertise in exploration,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer.“They saw an opportunity to consolidate mineralization in the region and we are excited to continue to explore Copper World while remaining committed to advancing Rosemont through the appeals process.
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Phoenix now a Tier 1 city according to The Milken Institute

By: Valorie Rice, Senior Business Information Specialist 

Phoenix is now a Tier 1 city according to The Milken Institute Best-Performing Cities 2021: Foundations for Growth and Recovery released on February 17. There were several significant changes to the rankings in this year’s report with positive results for most Arizona metropolitan areas.

Milken considers 401 metropolitan statistical areas (MSAs) across the U.S. when ranking city performance and computing the index. As in past years, the analysis ranks large cities and small cities separately. The large cities list includes 200 metropolitan areas with a population of 250,000 or more, and the small cities list is comprised of 201 metropolitan areas with a population over 60,000.

This year for the first time the rankings have been broken down into five tiers. The top 13 cities (metropolitan areas) within the large and small cities lists make up Tier 1. By grouping cities with similar scores into different tiers, the researchers hope to create new benchmarks for city leaders to use in making their areas more competitive over time.

The Best Performing Cities Index has always placed an emphasis on jobs, wages and high tech growth with both short term and five-year job growth and wage growth weighted heaviest followed by high tech GDP growth and high tech concentration. This year’s index also includes one- and five-year measures of housing affordability by looking at housing cost burden as well as broadband access among the metrics used. The onset of the COVID-19 pandemic did play a role in the reasoning for updating the measures used in the index and was evident in the short-term job market indicators.

Phoenix ranks seventh among large cities placing it in Tier 1. Arizona has three Tier 2 cities, two Tier 3 cities and one Tier 4 city as seen in Figure 1. Tucson, the only other metro in Arizona among large cities, was listed as a Tier 2 large city with a rank of 41 among large cites. Within Tier 2 small cities, Lake Havasu City ranked 16 and Prescott Valley ranked 25. Yuma and Sierra Vista were among the Tier 3 small cities with ranks of 66 and 100, respectively. Flagstaff fell to Tier 4 with a rank of 169 out of 201 small cities, a drop of 82 places from its 2020 ranking. There were no Arizona cities within Tier 5.

The best-performing large city in the nation was Provo-Orem, Utah, reclaiming its spot at the top after landing at number two last year. The best-performing small city was Idaho Falls, Idaho. Both of these metro areas ranked highly in job growth and the amount of high tech industries there. In fact, high tech concentration plays a large part in all Tier 1 cities, particularly for large cities. Adding affordable housing as a measure did affect some of the rankings as last year’s top-ranked city, San Francisco, fell to 24th place this year. Many of the top performing places this year were from the West, particularly cities in Utah and Idaho, but also Colorado and Arizona.



Marcus & Millichap Arranges the Sale of Windsong Medical Park in Prescott Valley, AZ

PRESCOTT VALLEY, Ariz., – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Windsong Medical Park, a 17,091-square-foot office property located in Prescott Valley, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3.3 million ($193 PSF).

“The sellers were the original developer of the property and having owned it for over 20 years they were looking to downsize their responsibilities and so they could focus on running their practice,” explained Alan Laulainen, investment specialist in Marcus & Millichap’s Phoenix office. Laulainen alongside Mark Ruble and Chris Lind, investment specialists also in the firm’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. “We navigated the loss of a tenant during the process but ultimately sold the property to a buyer that recognized the value in the asset,” Laulainen added. “They purchased with the intent of leasing the vacant space and extending the short-term leases to stabilize the property and hold for investment.” The buyer in this transaction was a local investor in Prescott.

Windsong Medical Park is a village-like campus located at 3188-3200 Windsong Drive in the center of the Prescott Valley Medical Corridor, adjacent to Yavapai Regional Medical center East. Built in 1993 on 1.97 acres, the asset consists of seven suites with a diverse mix of tenant specialties.