Returning Axe
Vulcan's blacksmith shop is located high up in the mountains of Axe Glacier. To get there, simply follow the route to the Drake. At a crucial juncture just south of the route to Drake, hang a right and kill the mobs there including the KWolf (King Wolf). Grab the egg that it drops!
Be sure to fill up a bag with gems- at least 5-10- for Vulcan's daughter, Alia, the annoying little thief who can and will yoink your newly made axe or the egg.
*Please note: There is currently a bug that allows you to put 1 coin in any of the fire hexes south of Vulcan, effectively freezing the thief who just gazes lustfully at that single coin while you get your stuff made without fear of theft.
Drop egg at Vulcan's feet. Say: "v, craft axe".
Congratulations! You are the new owner of a RAxe (Returning Axe).