I have a leak coming in around my mast step plate and running down my compression post. At first I hoped water was coming in the hole for electronic cabling, but I can see it coming right down the post when watet is poured on step plate. Now how do I fix. I assume the plate is welded to the compression post, so if I remove deck bolts and bolts at base of copression post, I can slide it out. Scrap off old sealant, re-apply and replace post. How does this sound?