Michael (Mick ) Caratti, Non-Executive Director, Lycopodium
Feb 19, 2024
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Explore the journey of Mick Caratti, from coal mining town upbringing to key founding member of Lycopodium. Learn about his resilience, survival during a cyclone, and evolution in the engineering industry. Discover insights on client-centric fee structures, quality focus, and long-term market trends in battery minerals. Hear about his passion for car racing and target rallying, and gain advice on embracing opportunities and perseverance in career.
Lycopodium prioritized project/client interests, ensured accurate cost estimates, and earned client trust through successful project delivery.
Quality was Leica Podium's focus over size, maintaining excellence across all disciplines and managing growth carefully to uphold reputation.
Recognizing industry cyclicality, Leica Podium prepared for market fluctuations, adapting to economic downturns and ensuring long-term stability.
Deep dives
Philosophy of Building Credibility with Clients
One of the founding principles of Leica Podium was to prioritize the project and the client's interests. They aimed to build credibility by delivering successful projects and ensuring that cost estimates were accurate. As an EPCM (Engineering, Procurement, and Construction Management) company, they acted on behalf of the owner and focused on the project's quality, achieving results on time and within budget. This approach helped them gain the trust of clients and establish long-term relationships.
Striving to Be the Best, Not the Biggest
Leica Podium's philosophy centered around being the best rather than being the largest company. They believed that maintaining quality should be a priority, even during periods of growth. The focus on quality was driven from top management down, ensuring that each discipline within the company aimed for excellence. They were careful about managing growth to avoid compromising the quality of their work. By prioritizing excellence, Leica Podium built a strong reputation and received referrals through word-of-mouth, contributing to their continued success.
Preparedness for Market Swings and Downturns
Leica Podium recognized the cyclical nature of the industry and understood the importance of being prepared for market swings and downturns. They learned from past experiences and understood that economic downturns are inevitable. By having this awareness, they were able to implement measures to navigate through challenging times, ensuring the company's stability. This foresight allowed them to adapt and maintain their position even during challenging market conditions.
Building Portable Plants for Gold Tailings Retreatment
The podcast episode discusses the experience of Mick Davis, one of the co-founders of a company called Like-a-Pod, who began by designing and building portable plants for the retreatment of gold tailings. They developed a unique design for a portable plant, which consisted of a large rectangular tank divided into six separate tanks with agitators. This innovation allowed for higher recoveries of gold from tailings, and they successfully built and operated multiple plants for gold tailings re-treatments, proving the feasibility and effectiveness of their approach.
Transitioning to Like-a-Pod 2.0
After the success of the first iteration of Like-a-Pod, Mick Davis and his team decided to start a second iteration of the company in 1992. They assembled a team of experienced professionals and re-registered the company under the same name. Over the years, Like-a-Pod 2.0 grew significantly, diversifying their projects and establishing a strong reputation for delivering projects in various industries. They listed on the ASX in 2004 and have continued to thrive, adapting to market conditions and focusing on long-term strategies. Mick Davis recently stepped down as chairman, confident in the capable hands and strong management team that will lead the company into the future.
Our very special guest for this episode is a Lycopodium legend, an original founding member and Chair since inception until last year – 40 year mineral processing industry veteran - Mr Michael (Mick) Caratti.
An electrical engineer that grew up in Wollongong in NSW who through a couple of sliding door decisions ended up in WA and became a key founding member of the team that has grown Lycopodium into the leading global integrated engineering, construction and asset management solutions provider success story it has become. This is truly a wonderful story told by an understated, highly regarded, absolute leader in his field.
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