Just a tuppennyworth - it's still a very handsome bike.  And the photo shows how much love and care has gone into it.  A fwiw - hang on to it.  If you can't fix it up now, it's worth hanging on to until you can?
 
Be warned - do not trust my judgement.  Years ago, an idiot in Frankfurt Airport drove his forklift truck into my beloved 12-string guitar.  An Eko; built like a Russian tractor, and played like a dream.
 
And I carried that broken wreck around West Africa and back to Britain.  I kept trying to find somebody with the skills to bring it back to life.  Nada.  The guys I took it to - took one look and said "no way".
 
Eventually - after 12 years (!) lugging the wreck around, I chucked it in a skip one weekend.  Stupid, but I mourned its going.
 
 
 
 
 
 
 
 
 
 
 
 
And on the next Friday, met a luthier in a pub who KNEW my Eko 12-string, would be able to rebuild it, and would have done it for free just for the pleasure of bringing it back to life.  Ah sh!t - sometimes life sucks.