Yes, the lower the PPS, the less risk for the same reward.
You posted that yesterday as well.
Since then, TECO's PPS has gone down 10%. That means the risk is 10% lower than 1 day ago and the reward is 10% greater.
It's similar, new risk was added.
Fundamentally there are too many significant Risk factors that just developed. This is offset by the promise of Belize. I personally agree with Belize: this hole is dry. I have not seen anything valid to date to prove otherwise, neither has the country of Belize.