Dave Hodgson has just called me and asked me to post the following, in case it's any help (as he's not registered).
About 4 years ago, when he was at the Natural History Museum, he consulted their senior conservator Lorraine Cornish about slal repair. She immediately recommended Milliput Putty. They apparently buy it in bulk, as it's so useful for all sorts of repair work, such as reassembling delicate bones through to heavier jobs.
Apparently it can be used underwater, so there should be no problem with its use in a damp cave.
He also mentioned it comes in a range of colours, one of which will be used shortly to repair a red stalactite from Wizard's Chasm.
I've done quite a few stal repairs myself over the years but never tried that stuff. So, if you do go ahead, please could you let us know how you got on? Thanks.