Fyrr rauð Fenris varra
flugvarr konungr sparra
— malmhríðar svall meiðum
móðr — í Gamla blóði,
þás óstirfinn arfa
Eiríks of rak — geira
nú tregr gæti-Gauta
grams fall — á sæ alla.
Fyrr rauð flugvarr konungr sparra varra Fenris í blóði Gamla; móðr svall meiðum malmhríðar, þás óstirfinn of rak alla arfa Eiríks á sæ; nú tregr fall grams gæti-Gauta geira.
Earlier the flight-reluctant king [Hákon] reddened the prop of the lips of Fenrir <wolf> [SWORD] in Gamli’s blood; courage swelled in the trees of the metal-storm [BATTLE > WARRIORS], when, agreeable, he drove all Eiríkr’s heirs to sea; now the fall of the king distresses the guarding Gautar <= Óðinn’s> of spears [WARRIORS].