Magister Ladd:
Let's see...what have we here? Pure Silver, True Gold, Blood fire! Nicely done. You are ready to go to the mixing urn in the basement of the Ivory Tower and create Mimir's elixir.
As you know, the Blood Fire is currently inactive. When you activate the cauldron, set the temperature to 3, put the Pure Silver in, then True Gold. Keep the Blood Fire nearby and it will immediately start reacting with them. If you do everything as I say, you should have no problems getting the elixir.
Well, good luck with it! Come see me after you are done mixing the ingredients and I shall tell you how to use the elixir to achieve your goals.