Why they are trading where they are compared to the others.
They have the largest land package by far, so the chances of them having the best is higher than the others.
The other companies didn't even know what they were sitting on until Novo came along. Now they are scrambling to add additional land packages to their portfolios. I would venture to guess that Novo already bought what they considered to be the best land packages at much cheaper prices. The others are merely fighting for the scraps that Novo passed on.
Their premium to the others is well deserved IMO.