G'day Jaffa, I have recently sharpened and balanced one of these and it came up fine.
It was in the same condition as yours.
My method is to use a bench grinder and a nail I have hammered into the side of a cupboard to watch my balance as I go.
You can also use one of these below for balancing.
![[Linked Image]](https://www.outdoorking-forum.com.au/forum/uploads/usergals/2014/06/full-4730-16909-blade_balancer.jpg)