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@Arducius
It could just be that the wedge is stuck, holding the stem in place when the bolt is loosened. You could try loosening the bolt, and then tapping the head of the bolt with a hammer to dislodge the wedge (don't undo the bolt entirely, so the force is spread across more than one thread). This has worked for me in the past, however if it's the stem itself then you will need a bit more brute force or chemical assistance...