The Colour Out of Space + Nicholas Cage + Richard Stanley = roll for sanity?

A decade ago (!), there was mention here of a possible adaptation of The Shadow Over Innsmouth involving Nicholas Cage, and the fact that Cage was a fan:

actor Nicholas Cage's Saturn Films was in possession of the project, as explained by Rob, "As per the rumor of Nicholas Cage being involved, yes that is true. Cage is a die hard Lovecraft fan and while working on Adaptation, Joel Harlow mentioned the script and Cage wanted first look. Saturn Films (Cage's production company) is currently in possession of the project.

https://unfilmable.blogspot.com/2009/08/theres-life-in-innsmouth.html

There's a now a different chance at a Lovecraft-Cage project:

Voets, Cedric. "Nic Cage Has Met His Crazy Match In The New Lovecraft Movie." Cracked. January 25, 2019. http://www.cracked.com/article_26170_nic-cage-has-met-his-crazy-match-in-new-lovecraft-movie.html

To get an idea of how potentially creative and strange such a film could be with Richard Stanley directing, see for example two of his early genre films Hardware (1990) and Dust Devil (1992) (The Final Cut). To get an idea of how the man's mind developed since the 1990s, see the 2014 documentary Lost Soul: The Doomed Journey of Richard Stanley's Island of Dr. Moreau - he'd been the original director of the adaptation starring Marlon Brando with Nelson de la Rosa as Brando's "Mini Me."

Another potentially promising sign that Stanley might potentially be a good Lovecraftian director is his 2018 appearance at the HP Lovecraft Film Festival reading Clark Ashton Smith, a festival that screened a documentary about Smith in which Stanley appeared. See also the Richard Stanley interview on this blog from 2011!

Richard Stanley reads The Hashish-Eater from Darin Coelho on Vimeo.

The Colour Out of Space could be strange and wonderful, or bonkers but in a good way, or it could be the latest never-to-be-made HPL film... let's hope for the former?