What's this? Guillermo del Toro's Pinocchio pic is still alive?

Guillermo del Toro's creative plate is so full it's sometimes hard to keep track of the players.  After polishing up Pacific Rim and finishing The Strain, del Toro had been set to co-direct a dark, disturbing rendition of Collodi's children's story using a strange illustrated adaptation by Gris Grimly. 

Yesterday, we learned via a depressing tweet from Grimly that due to Frankenweenie's ho-hum box-office take, del Toro's Rango-esque Pinocchio project had been put on permanent hold.  In the brief message, Grimly simply stated this was "not the right time for such a superior-adventurous flick."

Now it appears as if the little wooden boy could still be wonderfully alive, as announced Friday morning by Grimly via Twitter:

           Pinocchio still has a heart that beats! I spoke too soon and it turns out that Pinocchio is still pulling interest from studios.

            — Gris Grimly (@GrisGrimly) 4:00 AM - 01 Feb 13

Stop-motion films are a costly, time-sucking endeavor that don't always translate to spun theatrical gold, but maybe with del Toro's name and involvement the studios are willing to keep this marionette on temporary life support. 

(Via Screenrant)