Restoring rusty old pocket knife found from fleamarket - Knife restoration

I will restore this rusty 0.5€ pocket knife back it’s former glory. I found it from a flea market. The knife is very rusty but there is no major damage besides the pitting from the rust. I hope it’s not rusted beyond restoration. I found this very interesting because before actually starting the disassembly I didn’t notice how the assembly was done and I thought it would be a nice project because the pins were hidden and I was curious how the covers of the handle were done, was it paint or something or some