Collect the mysterious metal from the Smoldering Pile to the southwest of Cotswold for Elvar Ironhand.
Did you see it!? Did you see it!?
At first I thought it was Golestandt. But the light was blue, instead of red.
My former master, Hammond Blackhands, saw something similar once, or so he told me. He went out to where it landed and pulled the strongest metal he'd ever seen from the crater.
When I saw this star fall, I immediately set out to where I thought it landed. Sure enough, there was a soft glow on the ground just across the river to the southwest of Cotswold. Alas, the faeries got there first. They chased me away. These hands'll never get to work that star metal unless someone fights those faeries off and collects it for me.
If someone did, I'd never charge them again for any weapon in my stores.
Retrieve the metal from the Smoldering Pile.
Speak with Elvar to give him the chunk of metal.
Go across the bridge and follow the water south, there's a small camp of sprites guarding the Smoldering Pile at loc 7574,34637.