[pegasus1457]

I noticed a weeping patch on the keel of my 1980 P32 today. It was not there when I bought the boat this summer, but since it has been in the water
it has appeared. It is a 6 inch square patch more or less in the center of the keel on one side, and it is weeping a creamy yellow liquid. Actually given the
weather here, it is now a creamy yellow ice.

I tapped on the square patch and it feels like it could be lead. Is this the remnants of a repair? Is it part of the Pearson fabrication process?

I have no idea what it is. Can someone enlighten me?

I have posted this query to the Pearson owner's list but so far no reply.