I'm guessing you've got a comp tip. So, it sounds like it's finished. I've got an old 16 mast with a similar problem halfway between the base and tang. I've thought about trying a repair using epoxy and carbon fiber, but haven't tried it because there is a bend as well. The bend was too high to turn it over, cut it off and put a comp tip on the opposite end.



I wouldn't melt it down, since mast stock could always come in handy for something. It may not be apparent now, but as soon as you get rid of it, you'll know.