Pratt's Pond is a source of Tier 1 stone, essence, gems, and cloth plants. All around the pond area, there's Sandstone and Flax. Additionally, Dim Essence can be found at the base of the waterfall. Also, there is a gem mine, with an entrance at (45708,14293), containing Garnet, Malachite, and Turquoise.
A Stone Cutter and Stoneworking Pedestal are located at (45763,14309). A Gem Cutting Bench and Jeweler's Table can be found above ground at (45713,14151). An Essence Channeler can be found at the base of the waterfall, at (45896,14062).
Gaeta the Miner Trainer and Reffis Ironforge the Jeweler Trainer can be found in the gemcutting hut at (45710/14147). Erelald the Scholar Trainer is standing outside the stonecutting hut at (45767/14296)
A lone level 14 Garnet Golem wanders East of the waterfall, near (45743/14008).