Dont start graunching things yet, hopefully you dont need to.
Undo the centre small nut. This fastens the pivot in the banjo slot. Now see if you can pull the two gears and the big nut off the centre pivot, together with the centre bronze sleeve.
Now youve got the two gears, still fastened together, but off the lathe. Grip the bigger gear in the vice edge on, see if the big nut will now undo. Its a RH thread. Protect the jaws of the vice so not to chew up the faces of the bigger gear. This bigger 120t gear should have a female spline in it if I remember right, and the bronze sleeve has a matching male spline so they should be held secure while you loosen the bigger nut. Its the 127t gear which is smooth bored I think, will check in the morning.
Plan B is to sacrifice the smaller gear, but you shouldnt need to
Rgds Simon
Edited By Simon Williams 3 on 08/08/2017 22:08:30
Edit: My aplogies Ive misled you slightly.
Just been to check, and on mine the 120T gear is smooth bored, and both the 100 and the 127 T are splined. So holding the bigger gear 120 t wont stop the centre bronze bush from turning. You need to grip the little gear somehow – maybe pump pliers – to hold the bronze centre. Try it gripping the big gear as above though anyway, you might be able to get the big nut to loosen off.
Edited By Simon Williams 3 on 08/08/2017 22:36:05