I was also thinking that it's a bit worse for wear on the outside but is actually in good condition and just needs a once over with some paint. the inside is very clean bar a few dents. I'll try and get some pictures and post at a later date.
If I don't use it and leave it as it is I suppose it would corrode.
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I would love to see the update, @tworealsolutions. Hopefully something good comes out of this for you without too much work.