Rare hasn't been doing much with their classic library as of late, instead focusing on contemporary projects for Microsoft like creating Avatar items and working on the successful Kinect Sports games. That doesn't mean there aren't people dedicated to Rare's past, however.
A group of former Rare employees have taken to Twitter under the moniker @MingyJongo, stating their intentions to make a spiritual successor to the Nintendo 64/Xbox Live platformer Banjo-Tooie.
According to comments on the account, the team is working on making a follow-up of sorts, but it "wouldn't be to try and recreate Banjo". Instead, they're setting out to create "something new," but something along the same lines of gameplay as Banjo-Tooie offered. (They can't make an official Banjo sequel since Microsoft owns the rights.)
They're working on a Kickstarter page for the project, but right now it's all just bits and pieces of commentary on the Twitter account. But keep those fingers crossed, we could see some old-school platform gaming yet…