A 40-minute independent film, entitled The Hunt for Gollum, is now available online. The film takes place in the time after Gandalf discovers that the One Ring is in the Shire and tells the tale of Aragorn's attempt to find Gollum before the servants of Sauron can do so. The story is an original one, but it draws on the appendices of The Lord of the Rings for many of its ideas.
I'll have to watch it again to form a considered opinion of the project. My initial impression is that it's extraordinarily well-done for what is effectively a fan film. There's a bit too much homage to the Peter Jackson films, with all their weaknesses, though. Given that the film didn't have the blessing of either Jackson or New Line Cinema (not to mention the Tolkien estate), I'd have preferred it went its own way stylistically, if only to better distinguish what is without a doubt one of the best amateur films I've seen distributed for free on the Internet.
The story, script, and acting aren't quite on the same level of excellence as the production values, but that's no crime, I suppose. It's definitely worth a look, if only as a reminder that technology is now advancing to the point where it's quite feasible for a small number of people to produce movies of all sorts of stories that might otherwise not be filmed. One day they might even be good ones.