If you remember what happened last year, you know that Flagship Studios had to close and take down with it their free MMO Mythos, upsetting quite a few gamers. However, part of the Flagship team created a new studio, Runic Games, and the new guys on the block are now ready to present us their first project, Torchlight.

It’s not a big surprise to hear that Torchlight is also a MMO game described as an action-MMORPG featuring characters “in search of the magic ore that imbues their equipment with power, yet imperils their very existence.” Sounds interesting, although we would’ve loved a few more details. Everything when the time is right!

So, until we hear more about Runic’s first project, we can tell you that Torchlight has been signed by Chinese publishers Perfect World, but there’s no release date set yet. We’re waiting.