Apparently there was a growing optimism among the Tolkien fans that there would be a pending announcement on August 21st – hopefully the greenlight on production of The Hobbit – based on a private event following a “refurbishment” being held at the Weta Cave. But later reports showed that the event is nothing special. But if the sets are indeed being unpacked, there is still hope.

First among the rumors, there is the possibility that David Tennant could take over the apparently vacant role of Bruce Banner/The Hulk in The Avengers; now there is a rumor, although not necessarily a high confidence one yet, that 7th Doctor Sylvester McCoy has been cast in a role in The Hobbit, possibly in the role of Bilbo Baggins – a role he lost out to Ian Holm for The Lord Of The Rings. Lending credence to this is the fact that McCoy is 12 years younger than Holm, and the role is for a younger (relatively, in halfling years) Bilbo…

Just an update on the latest of the Hobbit saga – the production, not the story: Peter Jackson is reportedly meeting with actors this week in LA, with NY and the U.K. on the schedule, even though the production has not yet received a green light from studios WB and MGM due to MGM’s financial situation. WB is reportedly negotiating with MGM – which really means they are negotiating with creditors who probably see this as MGM’s only major franchise…

Given all the doubts about when production will begin, or even who the director is, this is a good sign: images from the Shire, or that which will be the set for the eventually upcoming Hobbit features. Looks like the same attention to detail is being used…

The making of The Hobbit could be as much a saga as the story itself. With the departure of Guillermo del Toro as director of the project, there is a void to fill – if production ever gets moving again. Currently at the top of the void-fill rumor list David Yates, who has directed the last 4 Harry Potter films, including the yet-to-be-released two-part finale. Can he move from one epic series to another?

Shock: Guillermo del Toro has officially announced his departure from The Hobbit as director. “In light of ongoing delays in the setting of a start date for filming ‘The Hobbit,’ I am faced with the hardest decision of my life”, Guillermo said. At this point he will continue co-writing the screenplay. Update 6/1: Peter Jackson says that he might direct instead.

When will The Hobbit go before the cameras? Director Guillermo del Toro doesn’t know. “You know, there cannot be any start date, really, until the MGM situation gets resolved, because they do hold a considerable portion of the rights,” del Toro said in a conference call, referring to MGM’s financial troubles, with the studio looking for a buyer to avoid bankruptcy. He also states unequivocally that “It’s not green-lit. That’s categorical. It is not green-lit.”

Warner Bros. has announced that the release dates for parts 1 and 2 of The Hobbit will be set in December 2012 and 2013, respectively (despite an IMAX release that gave 2013 as the release date of just The Hobbit, which was an error). Both scripts are details are being worked out, but it looks like full production could begin on time by this summer.

Ian McKellan (Gandalf) has posted on his official site that filming on The Hobbit will commence this July (earlier reports said June) and casting has started in several cities. Director Guillermo del Toro is also currently living in Wellington, near the Jacksons’ studio.

Peter Jackson recently gave The Hollywood Reporter a one-on-one on-camera interview as part of their Director’s Roundtable. Check out what he says about The Hobbit and how they really are on schedule – if the studio gives the green light.