According to Latino Review (who seem pretty confident with the info), AT THE MOUNTAINS OF MADNESS will be del Toro’s next project once HELLBOY 2 is in the can. The story, based on a novella by nightmare maker HP Lovecraft, follows an Antarctic expedition’s discovery of a lost civilization and all the expected slimy freakbeasts from the Cthulhu caller’s warped mind.
The film has apparently found a home at Universal, HELLBOY’s new pad. Considering Big Red’s sequel is still shooting and the amount of work that will be needed to make its July 2008 release date, MADNESS seems unlikely to be a pre-strike reality. But at least it’s oozing in the right direction.