Rust stain - appeared out of nowhere with small crack in plaster?

You can’t “cover it up” or “seal it in”, the iron will continue to bleed out or around to the rest of the plaster. The source of the iron has to be figured out and that can only happen by chipping out the plaster in that area and exposing the gunite. It could be something simple like an inclusion in the plaster but it could also be much more if it’s coming from the shell. You could easily get into on your own only to be quickly out of your depth.

Maybe try calling around to some larger pool service companies as they will have people capable of doing the work and they’ll probably charge less than a professional plaster applicator.

You can certainly live with the “bleeding” if cleaning it up infrequently suits you. Then you can wait until you’re ready to renovate.
Great advice - I truly appreciate it. I might check out a service company as well. Many thanks, Tony
 
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