If you don't complete the quest you will lose all the ingots you have loaded, this means you will lose the coins you spent to make them.
The next part requires you to get 50 pink sapphires bits, these are from mining rocks and your mines.
If you manage to complete the ingot quest then you receive a large sapphire, which you can then break down into 40 sapphire bits in 4 hours, so you then only need to get 10 more sapphire bits.