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Isn't is usually so that a lockring on the opposite side (usually shoulder/'lip' on the drive side, no shoulder, but a lockring, on the NDS) can screw down tight and hold the BB in place, without starting to affect the position of the other side, such as pulling it inwards or pushing it outwards...?
Gah I've just tangled my brain thinking about a BB's opposite screw threads and then the lockring thread as well - ignore me if no sense...
Aaaaand I think I'm talking about loose bearing BBs, not cartridge, so almost definitely ignore me. Sorry!
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There are some very decent new mountain bikes for £1k, especially if you go for a hardtail. That's a discussion on its own!
If you're thinking of that direction for a mountain bike, the next question is how to bring your old mtb up to date for whatever you want it to be. You don't have to invest £££s to get there - just new consumables as needed to get it in a rideable condition, or at the more expensive end, maybe things like new drivetrain (ignore me if the old one functions just fine), mudguards/rack/slick fat tyres/swept back bars to become an excellent cruiser shopper bike in its middle age maybe.
We need pictures of it here!
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Sure I won't be the only one to say... both?!
Depends what you want from it all. A new mountain bike (might not be any in stock... anywhere...for ages) for actual mountain biking, or your old mountain bike updated for off road (maybe a clutch mech etc., fresh tyres, brake pads, chain), or repurposed for commuting or other types of riding...?
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This must be satisfying - your part finding and cleaning up is top notch!