that mast is a tree, the section is really thick in comparison to other vessel. the mast is obviously painted and the condition in the photo
is not unusual.., scrape the blisters
away and see if its a pit or whether its just some corrosion from poor paint
prep. they may not have taken off the gooseneck before they painted it last time.
if it turns to be anything significant, the area can be doubled over with another piece of aluminum
extrusion and mechanically fastened to the mast. ie tapped and bolted.
if this is the only thing wrong with the boat then you are lucky.
usually the floor timbers at the keel bolts
are all delaminated and the bulkheads delaminated. the stem fitting may also be pulling itself through the stem frp.
one of the weak points of this boat regarding the rigging
is the port aft lower shroud
. its is only held to with a knee frame at the deck
shear. rub you hand over the deck and see if there is a lump