Coolant ejecting from bottom of 1984 VF500

I was sitting at a stop light for a few minutes on my 84 VF500 when a guy yells "Dude!" and points under my bike.

A large puddle of all of my engine coolant is just sitting there, all green and puddly, right under the oil pan cover. I see spurts of coolant shooting out from what appears to be a small hole, spurt spurt spurting out regularly. It appeared to be coming out of the oil pan cover area quite forcefully, from what I could see just leaning over the side of the bike.

Any ideas on the cause/ source of the leak? Putting the bike in neutral may have had something to do with it, because the rest of the ride I had kept the bike in gear until I came to a stop at that stoplight.

I have had the bike about a month and noticed the coolant draining super fast leading to overheating, so this has happened before without me noticing.

 

Could be as simple as a defective radiator cap or the fan not switching on. replace any lost coolant.