Bávor is an artificer tasked with repairing the great lock which opens access to the fabled Vault of the Mountain.
'That first gear has seen better days, but it's not beyond repair. I'll get to work on that, while you look for the second gear.
'According to the old records, the second gear was hidden in a chest in some old ruins to the south in the Vale of Thráin. The ruins are on the west side of the vale, off the road and across the Vale from Noglond. The records indicate that the chest is on the south side of the ruins.
'One thing you should be aware of, though, is that goblins have overrun those ruins. Be careful.'
The chest containing the second gear can be found on the south side of the goblin-infested ruins in the Vale of Thráin, south of Thorin's Halls and west of Noglond.
Bávor discovered the location of the second gear and has sent you to search for it, while he repairs the first gear.
Bávor is in Thorin's Hall.
Bávor will be pleased to begin working with the second gear.