Harbingers of Ragnarok
The common folk of the known world label anything they do not understand as magic while those that have devoted their lives to the pursuit of thaumaturgy revere it as one of the highest sciences. To the layman there are those that can, by uttering mere words, summon all manner of things from a simple ball of light to devilish creatures. The people refer to these individuals as wizards, sorcerers or warlocks almost interchangeably without ever knowing the difference.
The ones that do have typically had enough exposure or training to at least appreciate the intricacies of the science and study behind thaumaturgy. The known world is littered with founts of raw energies that its civilized peoples are only really beginning to understand and harness.
Magicite may possibly rival precious metals like gold and silver for value in the industrialized world, but only for those that have learned how to refine the ore and apply its use. Magicite and its seemingly limitless applications is used in all forms of thaumaturgical studies and countless have devoted their lives and the lives of others into unlocking its secrets.