For months, millions of fans around the globe have been wondering, ‘Will James Bond return?’ Now they can finally rejoice; his licence to kill has not been revoked.

After his involuntary hiatus, the world’s most famous secret agent will make his comeback on the silver screen. According to an announcement by the producers, the long-delayed 23rd film will be released in November 2012 – almost exactly four years after the 22nd installment “Quantum Of Solace” hit theaters.

Apart from producers Michael G. Wilson and Barbara Broccoli of EON Productions, the major participants for BOND 23 are still on board as well. Daniel Craig is slated to star as ‘007’ for the third time, and Oscar-winning director Sam Mendes is under contract to helm the project. Both signed on before the film was officially put on hold in April 2010. The script will be provided by Neil Purvis, Robert Wade, and two-time Oscar nominee John Logan.

MGM, the studio that owns half of the rights to the cinematic James Bond series, has been plagued financially for years. Owing creditors more then $3.5 billion, the company filed for bankruptcy in the summer of 2009. Most of MGM’s prestigious products, including BOND 23 and The Hobbit, were shelved or suspended. The saga dragged on until December 2010, when a press released confirmed that the debt-ridden studio had been restructured and was financially solvent again.

The unintended hold-up is not the first time the James Bond films have been marred by problems surrounding MGM. In the late 1980s, the planned 17th entry into the series starring Timothy Dalton was abandoned because of the studio’s contractual issues. Bond was not seen on-screen again until the mid-1990s. By that time, the torch had been passed, and Pierce Brosnan had taken over the role of the secret agent.

The announcement that BOND 23 is back on track guarantees that history will not repeat itself. James Bond will return in 2012, this time without a change of the leading man.