Odd muzzle on No.5 “Jungle Carbine”

I disagree. Check the usual sites for no.5 parts. It’s a gold mine of expensive parts.

Alternately, the front sight assembly can be replaced if the owner can locate one that is not a cheap repro.

You missed IMHO thing. Its just my opinion.

I've bought one of these before and the replacement flash hider / sight package from Numrich. Its not an easy replace.

Time is money, and IMHO the time, and money, it would take to refurb this back to original looks drops its value greatly.

But you go ahead and pay what you'd like. Like I said, just my opinion.
 
By the time you get one from GPC it is going to be over $100. Whether it is worth restoring that No. 5 would really depend on what it sold for.
 
That looks near identical to the no5 JB I got off the EE here. I paid $450. Professionally removed? Looks like clean work as does mine.
The only diff is mine retained the ears, no lug either.
I would have to imagine that it was removed due to accuracy issues/fliers. I however have never experienced the issue of a wandering zero that’s been stated about the no5. This has been debunked apparently.
I replaced it with an aftermarket piece from Numerich. They have a couple styles including a top ported cone.
I’ll see if I can post a pic of mine.
 

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While I cannot speak to the individual who modified your particular rifle, similar modifications were done by dealers many years ago.

I’ve owned a couple.

Could be restored, or enjoyed as is.
 
Old timer gunsmith in Fredricton, NB. He told me he bought 150 jungle carbines. 1960's, sporterized them all by cutting off the cone, bayonet lug, and sight ears. He paid $5 each for them, then sold them for $15 each as sporters. He was still quite proud of his work in 1987 when I met him. I was extremely disappointed. Lever Arms was selling Indian JC's for $300 around that time.
 
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