Steel axes normally cost 300 points each. Instead of spending that much on them, you can make yourself iron or copper axes by bringing the resources needed instead, and having one dwarf make them for you. For comparison, you could bring 1 anvil and 2 steel axes for 1600 points. You could bring no anvil and 5 steel axes for 1500 points. Or, you could bring enough resources to make 18 iron axes for 1489 points, or 55 copper axes for 1498 points. 1200 points is slightly more than enough to make 7 iron axes or 21 copper axes.
You'll need:
1 anvil (1000 points),
2 tower-cap logs (3 points each, total 6 points),
* N magnetite/limonite/hematite stones (for iron, 24 points each), or N malachite stones (for copper, 6 points each), where N is the number of axes/picks/weapons you want
N-1 bituminous coal (3 points each)
Here's how:
You'll want to build a wood burner, a smelter, and a metalsmith's forge. Burn both logs in the wood burner to get two charcoal. Smelt the coke in the smelter. Each will produce a net gain of 2 fuel (that is, coke/charcoal) (producing 3 and consuming 1 in the process). Then smelt the magnetite/hematite/limonite or malachite, which will use one fuel per piece of ore. Finally you can make iron or copper axes in the metalsmith's forge, using one iron/copper bar and one fuel each.
The reason I said to bring two logs is that if you bring only one, you'll have an extra coke left over in the end (since it takes 2 to smelt ore and make an axe from it).
If you bring two logs:
1 coal -> 3 coke and 1 charcoal -> 2 axes
2 coal -> 5 coke and 1 charcoal -> 3 axes
3 coal -> 7 coke and 1 charcoal -> 4 axes
That's why you need N-1 coal.
If that wasn't clear enough, here's what you need for 17 iron axes:
1 anvil - 1000 points
2 tower-cap logs - 6 points
17 magnetite - 408 points
16 bituminous coal - 48 points
Total: 1462 points.
If you're insane and you want to spend almost all of your 2060 points on iron axes:
1 anvil - 1000 points
2 tower-cap logs - 6 points
39 magnetite - 936 points
38 bituminous coal - 114 points
Total: 2056 points.
If you REALLY want to min-max, you could omit the anvil, build a ton of stone crafts, and buy an anvil from traders so you can spend another 1000 points on more magnetite and coal:
2 tower-cap logs - 6 points
76 magnetite - 1824 points
75 bituminous coal - 225 points
Total: 2055 points.
You don't even have to use iron. Malachite (copper ore) costs 6 points each, and there's nothing stopping you from making your axes out of copper - or, hell, making your own copper picks (for roughly 9 points each) instead of buying them (for 20 points each).
You could make a whopping 117 axes or picks with slightly less than 2060 points if you bring an anvil, or 228 if you trade for an anvil.
[ November 25, 2007: Message edited by: Shadowlord ]