[UPDATE: Some phans are finding this news confusing. The film was originally announced as being complete last March, but Don Coscarelli then told Bloody-Disgusting that only the filming was complete and that visual effects work was ongoing and "will be for quite some time." This is the first public confirmation I have personally seen that work on the sequel has concluded.]
Star/producer Reggie Bannister has been interviewed for the 200th episode of the Rabbit in Red Radio podcast at TheDevilsEyes.com. As you might expect, the conversation turns toward the new Phantasm Ravager every so often. The Regman talks about how shooting took place at his property in the mountains of Crestline, California and reveals that production also took place at director David Hartman's home. This isn't so strange, he continues, as Don Coscarelli productions have been doing this as far back as 1976's Kenny & Company, which shot at the Senior Coscarelli household. He goes on to promise the new sequel will include "a lot of action."
The biggest news bomb dropped in the podcast is public confirmation that Phantasm Ravager is complete! In his own words, Reggie tells the podcast, "We've got final cut." He also mentions that while the film is finished, he has not yet seen the completed version but expects a distributor to pick it up soon. The weird thing is that Reggie references the upcoming Anaheim WonderCon in his interview, which took place back in April of this year. That places this interview as occurring in March of this year, meaning Phantasm Ravager has been in the can for that long!
This should help to dispel any nagging rumors that the filmmakers haven't finished the effects or have gone back for reshoots. Hooray!!!