It can be valuable rune to hunt Cyclops creatures in the early game (I would use it early on before being able to cast Stoneshower Rune to start powergaming). It can be also a good resource when hunting Orcs, since this race also suffers a lot against earth damage. If you are rushing with Stoneshower for exp in Ulderek's Rock and needs extra firepower against stronger Orcs like the Orc Warlord, this can be a good call.
I also used it as a Free Account with my mages, since they lack any sort of exori. It is an interesting rune for this case because you can make runes of Stalagmite as a Free Account.