Hi there. Your problem is a common thing on all watercooled motorcycles. The coolant leaking out of the small hole( by-pass hole ) located directly under the water pump, is indicating that your water pump seal is leaking.
If the water pump seal leaks, coolant will leak out of this hole to indicate this problem.
There is also a seal on the same shaft ( called the back-up seal ) on the inside of the clutch cover to prevent two things from occuring.
You will need to replace the waterpump seals ( both main & back-up ) as well as the bearing that you will need to remove during the process.If you undertake this job yourself you will need to remove the clutch cover to do so.
I have outlined the cause of your leak & can further assist you if you intend to DIY, but I suggest you would best have a workshop manual to assist you in doing so.
Any further questions please don't hesitate to ask!
Regards Andrew Porrelli
It is very likely the water pump seal. It is always a good idea to replace the bearing while you have it opened up.
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