nice little project mate, looks really simple and easy to work on too.
i used to be into mountain biking and even had a part time job at halfords working bike hut, i think the trickiest thing was fitting a chain and the hardest jobs were rear cassets and bottom brackets depending on how siezed they were but usually sorted with the correct tool and a HUGE breaker bar...with extension
what are you planning for it? strip down, paint, rebuild with new bearings?