this isn't too hard to repair and on a 125, shouldn't take long. you've done the hard work by getting the engine out the frame! the conrod should move side to side but shouldn't move up and down at all. when checking it, make sure the conrod is in the middle of the crank with equal movement either side, then try to move it up/down. if you feel any up/down movement, you'll have to strip the engine. it's probably a shell type bearing that comes in two halfs. it needs oil to make it work! buy a haynes manual and it's really easy. a gasket set is probably going to set you back £100 for everything. piston ~£30. rebore ~£80. bearings ~£50 remember that if you rebore the engine, you'll need an oversized piston. this will give a little extra power (as will decoking the engine) it looks like the engine has overheated and had a lube failure. once rebuilt, you need to strip and clean the carb making sure it's all set up correctly, then check the oil pump meticulaousy. good luck!