Screw mount broke, how big a problem is it?

Currently tearing my project apart to the frame to go over everything. I removed the clutch slave cylinder and chain drive cover and found a piece of the metal gone, therefore not allowing a screw to seat propperly. I have some pictures to show the screw and area, I was doing a little work before I left for work so I didn't have time to put things back toghether and verify the screw. From looking at the pictures I think it is the upper screw on the slavy cylinder that can't attach. I also had problems removing that screw which is why I'm thinking that is the issue. What do you folks think, and, should i be concerned since I have two other screws to seat it in and I can seal the cylinder to the cover to hold it in place?

Still attached:



Removed, and in the upper center of the photo you can see the part that is missing the rest of the material:



And here is a close up of the problem:

 

Are you sure the missing part is not stuck in the cover?

 

Not a pretty sight, from the condition of the bike, looks like you may find other problems. It all depends on how serious you are about this project bike. You can either have engine case heli-arced, redrill and tap or clean thoroughly, drill out for heli-coil, and use high strength plastic steel or the like to hold heli-coil in, then don't over tighten.