Dawnthief by James Barclay

The Raven: six men and an elf, sword for hire in the wars that have torn apart Balaia. For years their loyalty has been only to themselves and their code.
But, that time is over. The Wytch Lords have escaped and The Raven find themselves fighting for the Dark College of magic, searching for the location of Dawnthief. It is a spell created to end the world, and it must be cast if any of them are to survive.
Dawnthief is a fast paced epic about a band of all-too-human heroes.

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