The boat has been on the hard for some time, drying out. There was a slight 'smile' crack noted at haul out, which progressed to about a foot long at the front of the keel, and started oozing water. During the removal of multi-coats of bottom paint by the previous owner(s), the joint sealant readily came off, and the silica filled perimeter joint compound readily flicked out in pieces, leaving a good 1/8 inch (3mm+) open gap at this area. Its a safe assumption, water has penetrated into the keel voids. I want to physically observe what if any structural or corrosion damage has been done to the keel bolts! One should never, repeat NEVER re-seal around the keel, encapsulating water that will continually corrode the 300 series stainless steel bolts to its eventual failure. (This from an ex-pat Canuck)