Last Guardian Still in development

After being delayed to an undisclosed date, and loosing the brain of the team, there was little or no hope for The Last Guardian, but Sony have confirmed that the title is still in development, yet there is no news surrounding the game or whether or not the title will be at this year's E3. The game is in development hell, and with technology progressing at such a fast pace, there still is a doubt to whether or not this title will see the light of day.