It looks like it's got years of gunk/hardened grease in it. Since it's not functional anyway, I would try a good WD-40 or other lubricating agent/solvent to see if that gets things going.
If that doesn't help, try to dismantle it (carefully). It looks like a 1930s Mauser commercial magazine (if it isn't an old reblue) to me, which is correct for 1930s commercial Mauser contract guns like the Dutch Navy luger. So I wouldn't chuck it into the parts drawer that quickly.
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