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That is hard to determine just based on a picture. I would say given the fact that the GZ is a relatively inexpensive motorcycle, to buy parts for it and the labor put into it would far exceed what the bike would be worth. It could very well be too that the frame is sprung in which case it would be toast. In my opinion, you would be better off parting it out, as I have already stated.
Others might chime in and give you their opinions. You have mine.
You might consider finding another GZ and using that one for spare parts as they will become harder to find the more that time goes by.
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