Motorcycle Repair Questions? Ask a Mechanic ASAP
Try loosening the locknut one complete turn then while the engine is idleing tap on the lock nut with a wrench. The slot in the tensioner is stuck on the head of the adjuster bolt in the cylinder and this will normally free it up an allow it to move.
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Yes, you loosen the bolt after loosening the locknut. Below is a link to a parts diagram of the tensioner system.