Kurt over at Kurtharsis posted some great musings on the possibility of a Mistborn movie being made as well as on directors and casting.  Check it out here.

In other news, I recently attended one of Brandon's Way of Kings book signings and had the chance to ask him about the status of the movie.  He says that he has seen a third draft and that it is approaching completion.  The next step will be getting the project picked up by a production studio.  Crossing our fingers this happens soon!

At least 3 awesome threads over at the Time-Waster's Guide discuss the status/casting/etc of our favorite upcoming movie. Check them out (and maybe contribute some of your thoughts):
Mistborn Movie - Casting?
If Mistborn was a movie...
So There is Going to be a Mistborn Flick....

Derek Bown, a creative writing student in Brandon's class, has taken the time to ask Brandon a few questions about the upcoming Mistborn movie.  He discusses what might have to be cut from the movie, and director, composer, and actor choice among other things.
Brandon believes the books have to "happen in film, by necessity" and clarifies that the contract with Paloppa Pictures covers the entire trilogy. He also speculates about movie length, feel, similar films, and adaptation requirements. Finally, Brandon confirms that a release date is not yet under consideration.
To read the complete interview please check out Derek's blog at:
http://burninglizardstudios.blogspot.com/2010/02/brandon-sanderson-mistborn-movie.html

Brandon Sanderson tweeted twice on Monday about the progress of Mistborn movie production:

"Got a note from the producer on the Mistborn film this weekend. First draft of the screenplay is done. Huzzah!"

"Remember, Mistborn film is still far off. After screenplay, attaching director/talent/studio would be next, and it’s a hard step to take."

To follow Brandon on Twitter: Brandon Sanderson
Mistborn Movie Guide: Its promising news that a first draft of the screenplay has been completed and shows the producers' resolve to move the project forward. I agree with Brandon, however, that it is still early in the process and the hardest decisions are still to be made. One can only hope we will get more updates like this in the near future!

Ian Strock over at sfscope.com has some new information about Paloppa Pictures and a new quote from Brandon about how they brought him on board.

Paloppa is a new, Florida-based production company, "whose mission is to create high-quality entertainment for mass audiences." They currently have three projects in development. Paloppa's principals are Christopher Geary, Rob Micai, and Marc Bryant. Micai is a co-producer on the forthcoming Letters to God. Bryant's background is commercials, including projects for companies such as Novartis Pharmaceuticals and Lockheed Martin. Geary's background, mostly with Micai, has been work on live stage, music videos, and commercials. Optioning Mistborn was Geary's idea.

Geary says, "As I was reading the book I felt more and more that this was a story that just had to be seen on the big screen. I contacted Brandon Sanderson, and was able to persuade him that Paloppa Pictures was the right team for the job. Obviously we're very excited by the opportunity to bring his work to life."

Geary and Sanderson first met in 2008. Sanderson said of the meeting, "When I arrived, I wasn't sure what to expect, and when I left I knew I wanted to be in business with Chris Geary and his partners in Paloppa. Chris knew the books, had palpable enthusiasm for them, and most of all had a real and relatable vision for adapting the series that was at once exactly how I envisioned and distinctly filmic."

Mistborn Movie Guide: This bit of background on Paloppa Pictures demonstrates that they have the experience and background to see this project through. It appears that the movie is in good (and enthusiastic) hands. However, contrary to Sanderson's earlier comment, the company has at least two other projects so Mistborn is not the only thing on their plate.

From a 2008 spoof post on the Time-Waster's Guide:

Lionsgate Announces Mistborn Movie
FOR IMMEDIATE RELEASE
Lindsey Lohan to Star in New Fantasy Epic Mistborn

Read the entire spoof here.

Brandon in June, 2009 on possibility of Mistborn movie:

"It is a small production studio, so nobody you'd recognize. The producer is a fan of the Mistborn books who has some credentials in independent films, and who has impressed me with his treatment of the books and his determination to make the film. This individual is starting a production company to focus on the film. We're in the contract stages now, and once that is done, I can be more specific.

It's not like the Alcatraz movie, which was optioned directly by a studio. Because of that, the Mistborn movie is probably a lot less likely to happen--but, the hands it is in are quite good. Anything having to do with Hollywood is a long-shot in the first place, so (after meeting with the producer) I decided that I'd rather take the slightly more unlikely chance in exchange for the opportunity to work with someone I felt understood the books."

Mistborn Movie Guide: Both Sanderson and I agree that the chances of this movie being made and ever see the screen are very slim. However, now that the books have been optioned, we may begin to see the project pick up steam.
Discussion of this comment here at the Time Waster's Guide.