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haveo
Must have been riding on it like that for some amount of time as I stopped riding it when I saw the cracks.
The sentimental value of the frame is too great to through away. So far the welder has quoted £30 but hasn't seen it yet.
Buying a new bike would be the proper thing to do.
Edit: @mdcc_tester
£37-£50 (repair and paint) would be reasonable no? Unless there are more things to do than this.