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Microsoft announces a remaster of Phantom Dust

During an interview with the American journalist Geoff Keighley, Shannon Loftis of Microsoft announced the development of a remaster of Phantom Dust with release scheduled for 2017: the game will be remastered by leveraging the assets of the original release on Xbox in 2004 and will be improved in places. That means the definitive end of the new project from troubled development, in favor of a simple remaster?