Hi Heather. That's a lot of miles without any prior engine work. Be prepared for a major and very expensive rebuild, I would hazard a guess at rebore, pistons, rings, valves, clutch, bearings, seals, chains and tensioners at a minimum. The cracked case is an additional problem, but the least of your worries. I suspect the sardine can has been stuck over another hole where the chain let go and went through the case - not uncommon. Don't overlook the cycle parts either. Wheel bearings, tyres, forks, cables, brakes will all need looking at and possible refurbishment.
If time and money is on your side, it sounds like a good project. Definitely worth more than scrap, even if you decide to part it out.