Another Roger Avary script isn't going to get made, and that one is for the latest film in the Phantasm series. The creator Don Coscarelli says that the series isn't dead though, and gives more weight to that sequel rumour.

In an interview Coscarelli says:

"I hate to tell you this, but as of now the epic Phantasm project, which was originally called Phantasm 1999 and had a script by Roger Avary, will definitely not be made. The screenplay was hyper violent, epic in scope, had a terrific role for Bruce Campbell in it, but we just couldn’t find a studio exec who was visionary enough to see the potential...

...The fans and the cast members are always asking me when the next one’s going to be, so we rolled around ideas and finally we have a screenplay written. It’s really quite interesting in that it answers a lot of questions amazingly; now it’s just a question of finding the opportunity to get this thing going..

That's what he told Dread Central through Jo Blo, and Jo Blo go onto carry the plot for that hyper violent sequel which sounds superb, shame we might never see it.

"The year is 2012 and there are only three U.S. states left. Between New York and California is the wasteland known as the Plague Zone. Unfortunately, the evil Tall Man controls that area. Since many people are dead, the Tall Man is able to make thousands of dwarf slaves for his planet daily in the Mormon Mausoleum. Besides him, the other residents are "baggers," human-like creatures that are infected by the Tall Man's blood, the dwarves, and, of course, the silver spheres, all trying to break out of the barrier that contains them and into the real world. A group of hi-tech troops are sent in to destroy the red dimension where the Tall Man gets his power. Reggie follows so he can find Mike after a series of nightmares he had. Will they be able to finally destroy the Tall Man for good?"

Does sound quite epic, and I can't believe that considering some of the horror films that are getting made that they wouldn't even consider this project. I'd pay to go see it, wouldn't you?