Guillermo Del Toro And The Hobbit Sequel

Since it was first announced, everyone has been wondering what will become of this supposed Hobbit sequel. For the first time publicly Guillermo del Toro spoke publicly to about the planned continuation:

"You know, I traveled to New Zealand just a little while ago, and one of the main reasons for going was to sit down and talk about the second film. 'The Hobbit', the book, is really one self-contained film, so for the second movie we sat down and worked it out. When we did this we got really excited because this second film is not a 'tag on', it's not 'filler', it's an integral part of telling the story of those 50 years of history lost in the narrative. There will be certain things that we will see from the first movie but from a different point of view, but it will feel like a volume, in the 5 volumes of the entire story. It will not feel like a bridge, I've been hearing it called 'a bridge film', it's not, it's an integral chapter of the story, and I think we're all on the same page."

Popular belief is that the sequel would reference The Silmarillion, a collection of J. R. R. Tolkien's mythopoeic works, edited and published posthumously by his son Christopher Tolkien in 1977. The book contained five parts of The History of Middle-earth, but is considered by most fans to be dense and rather boring. So the question is how much of The Hobbit sequel will be an original creation by del Toro, Jackson and Walsh, and how much of it will actually be adapted from such text.

Discuss: What would you like to see in The Hobbit sequel?