This is a continuation of An Old Friend quest. Ferid Redismos asks you to find him 2 Magnisites for a new invention his working on, a Teleport Stone that will allow you to Teleport from where ever you are. Go to the southeast to the Grom Siege cave look around you'll find one there. You can usally find more Magnisite in Grom camps. When you go back, with the 2 Magnisites, Ferid will reward you with a Teleport stone and gain 2 reputation points for the Society. He'll tell you to come back with as much Magnisite as you wish and he'll make you the Teleport Stones.
To activate the teleport Stone, go into your inventory double click on the stone and drop it. To pick it up just stand close to it and the hand icon will appear.
Note: If you are having trouble finding Magnesite, there's enough Magnesite to complete this quest and the subsequent quest in the Thieve's Cave. Magnesite also appears scattered around the Goblin Totems of the Ruining the Groms' war for them! quest.