There is a guaranteed fix for this leak.
I pack 3 or 4 off 1/16" cross section o-rings with the same ID as the speedo gear shaft, along the shaft. The part no is BS-010; available from your favourite o-ring supplier.
Remove the (long) brass bushing that the speedo gear runs in; warming the outer cover with a heat gun helps!
Bore out the speedo cable end of the bushing to 0.384" (boring is preferred to drilling), deep enough to accept the stack of o-rings.
I also machine a groove on the OD of the bushing to accept a 1/16" cs o-ring; can't remember the size! This guarantees no leakage around the outside. However, the main culprit is the speedo drive (ID).
Go find your supply of vaseline and coat the BS-010 o-rings (and the one on the OD; also chamfer any sharp edge in the casing so this o-ring is not cut when installing the bushing).
Push the o-rings into the bore you have machined, in the bushing.
Make up a simple tool out of tube to stop the o-rings from pushing out of the housing, and push the speedo drive into place from the rear of the bushing.
Warm the outer gearbox casing to about 70C, and fit the bushing back in place. Insert the locking cheesehead screw whilst still warm.
When cold, fit a fibre washer under the bushing lock nut, and do up nut.
I have also used the copper backed petrol tap sealing washers (with bonded rubber inner piece). From memory the washer that fits 1/4" BSP, is the correct size.
It will squash down sufficiently to fit the speedo cable, and the rubber lips will seal against the thread.
Richard