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Remove the scales to get Pine Nuts,Pinecone Scale and rarely an Oddly Shaped Pinecone Scale.
Also counts a fuel for fires, so be careful. Can also be lit and used as a short duration Torch.
Right-Clicking a pinecone into a Fireplace or any other lit object E.g ; Pile of Wood, Stove, will create a Flaming Pinecone This is a great four use inspirational for new characters.