With a bit of luck it might be just a case of a hose replacement, if the engine cranks over ok you might be lucky, they don't like being overheated.
A blown head gasket might over pressurise the system causing the weakest point to go, usually a hose.
I doubt welding up a pipe would have caused the hose to burst.
You say you were losing 50mm of coolant a month, that would have been a warning to find the cause where it was disappearing before a disaster.
Coolant would have left a tell tale stain at it's exit point if, externally leaking.
It might have been a leak coming from a weep hole in the water pump, warning that it was about to fail, or a hose that was iffy, or that it was going into the cylinders via a head gasket leak.
I had a expansion tank go and drop it's entire lot on a steep hill in my old D1 V8, I was lucky and the engine survived.
You might be lucky that's it's only a hose.
Cheers, Mario


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