"Rumors spread among fans of albums being recorded and then shelved. In 1999, it was reported that Shields had delivered 60 hours of material to Island.[23] According to sources, one was possibly influenced by jungle music.[26] Shields later confirmed that at least one full album of new material was abandoned. He said, "We did an album's worth of half-finished stuff, and it did just get dumped, but it was worth dumping. It was dead. It hadn't got that spirit, that life in it."[30] Shields later said to Magnet magazine, "We are 100 percent going to make another My Bloody Valentine record unless we die or something", and attributed the band's sparse output to a lack of inspiration.[31]"
"Following their appearance at the All Tomorrows Parties festival, the New York Times reported that Shields was planning to complete the unfinished album: "I realized that all that stuff I was doing in 1996 and 1997 was a lot better than I thought."[40]"
'Cause, y'know, wikipedia.
http://en.wikipedia.org/wiki/My_Bloody_Valentine_%28band%29