Yes, the company 'could have' chosen to prominently note the...

Yes, the company 'could have' chosen to prominently note the potential risks with respect to the emergency heritage listing; they also could have highlighted the much more real threat posed by the cyclical nature of the commodities they were looking for (which is the real proximate cause of the current SP).

Instead, they chose to highlight the positive potential for their projects, thus maximising the prospects for existing shareholders, attracting further buyers, and building the prospects for cost-effective capital raising to fund further drilling and development of the resource.

Amazing that management chose the latter? Not much.

You'll probably find when you go to buy a sports car that the salesman tells you about the ride and handling and doesn't say too much about the 'miles per gallon'. That's called "doing your job". Finding out about the potential down-sides is the job of the punter, not the business owner...after all, DYOR is the first and last axiom for the intelligent investor ("be lucky" is even better, but harder to consistently get right).