Mick I reckon the other (unseen end) will be all corroded and it will be an uphill battle, so while it is that far out, sorta cut a little slot in it with the dremel then using the back to back nuts wind it into the swingarm, and take them off and wind it all the way in into the swingarm itself, should be somewhere you can them wiggle it out, or just leave it in there……
BeeCee