Sovereign Metals MD demonstrates faith in company through exercising unlisted options Sovereign Metals Ltd (ASX:SVM) (FRA:SVM) managing director Dr Julian Stephens has demonstrated his faith in the companys rutile and graphite strategy by the exercise of unlisted options. On June 18 Stephens exercised 2 million 10-cent options and in doing so has increased the number of securities held in an indirect interest to 13.3 million. Kasiya maiden resource estimate The company recently established a maiden rutile mineral resource estimate for the Kasiya prospect in Malawi of 644 million tonnes at 1.01% rutile, including a high-grade component of 137 million tonnes at 1.41% rutile. This major technical milestone makes Kasiya one of the world''s largest rutile deposits. A scoping study is underway to unlock this large-scale natural rutile project with a focus on ESG and sustainability. Substantial additional resource growth is expected with the maiden estimate covering 49 square kilometres or just 43% of the total 114 square kilometres drill-defined rutile-mineralised footprint.