Chosen answer:According to linguist David Salo who worked on the languages for the LOTR and Hobbit films, he says "îsh kakhfê ai-'d-dûr-rugnul" meaning "May my excrement be poured upon the naked-jawed (ones) " - the naked-jawed ones being the beardless elves.
Answer: The Dwarrow Scholar website isn't sure, but suggests it sounds like "Ikhriyi zuzô'z!", meaning "Release the links [of the statue mould]."
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