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@Steff
I'd bin it, meself. Not only are the tubes fucked and definitely on a fast route to failing but you have absolutely no idea whether the joints within the lugs are intact. For the sake of say a hundred quid for a nice road frame to convert you'd be nuts to risk stopping with your face. Could be photographic distortion, but the forks look bent too and again you've no way of knowing if the steerer tube joint is OK.