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Immi Dept confirms - Decmil Ltd took 20 days to inform ASX of $137M Manus Is contract - insider trading??????

ASIC, where are you?

On 21 July I wrote to Minister Tony Burke about the contract his department let with Decmil Ltd, the successful tenderer for the Manus Island Detention Centre.

Today Ken Douglas, First Assistant Secretary of the Department of Immigration replied with a complete and fearless response to my questions.

First up a reminder, the Decmil share price was on the way down, until someone started buying Decmil shares, 2,000,000 shares to be exact, on 13 June, 2013.

Decmil price chart

The shares were bought through Argonaut, a broker in Perth, here's the start point:

Start dcg buy

And the buyer kept going until they hit 2 million shares.

Summary argonaut purchases

On 2 July, 2013, Decmil notified the ASX that it had won the contract.

Someone made $500,000 during that time - put another way, someone lost $500,000.

According to the Immigration Department, Decmil was notified on 12 June, 2013 that it had won.

Someone is going to have a lot of explaining to do.

The text book inside trade

Text book tw