Oh, for those, you can generally upgrade all of the equipment that boost your stats like the arcane ring that boosts damage as long as they look like they are made of metal. You should be able to collect the necessary metals to upgrade all of your equipment. The current upgrade path is x -> silver -> gold -> mithril. I recommend upgrading the loot finder and then the things that are important for damage. Maximizing resource collection and damage output speeds up the grind I find.