Is there any evidence Dark Lord, beyond your wishful thinking? Personally if an author chooses not to continue a sequel and dismisses the concept in no uncertain terms then I take it as rather overwhelming evidence that he had drawn a line. He wasn't keen on the idea of films being made of his published work so I can't see he would have been chuffed about concotions. Only movie rights to LOTR and the Hobbit were sold they haven't carte blanche over the whole corpus.
Some literary estates do authorise sequels and no doubt they could have made megabucks if Tolkien's estate had gone likewise. Whatever people think of Christopher Tolkien (and I know I am much more of a fan than some) the fact is that he was JRRT's choice as literary executor. If he trusted his son as to the exploitation of his works I don't see why anyone else thinks they are better judge of his wishes. We are free to create our own fan works but bottom line we are playing in someone else's sandpit...
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“But Finrod walks with Finarfin his father beneath the trees in Eldamar.”
Christopher Tolkien, Requiescat in pace
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