The Lonely Mountain Island Settled Discovery

After the main continents started receiving magical items (mundane to extremely powerful) and riches from ships that had found this mysterious island, races from all over started flocking to the island. Initially everything was peaceful, but greed soon set in. Over time the inhabitants started going after more and more of the riches of the Lonely Mountain.  During this time it was an island with a single large mountain in the center, surrounded by hills and forests, and eventually transitioning into beaches.