I have a 1993 NA 1.8 ltr and I think I have a blown head gasket or at worst a cracked head or block

When I start the car from cold, not always but mostly, I get alot of white smoke coming from the exhaust. It seems ok when it has warmed up but I havent dríven it far since this has started happening. I have looked at the oil filler cap and it looks ok with no signs of sludge as yet. Before I started the car this morning I looked at the coolant level and it had dropped, it was at least below the level of the top of the core. When I started it with the cap of the level of the coolant came up quite quickly and there was alot of small air bubbles bubbling in the coolant. Is this because there is a problem with the gasket, head etc. or is it because I was running it with cap off and the level of coolant was too low and it was bubbling beacuse the pressure was building in the system????
Just a thought, If I can find a spark plug remover small enough to get into and down into the hole I will remove them and see if there is any sign of water on the plugs. Will this show anything ?????
On the short runs I have done in the car there seems to no loss of power and no hesitation under acceleration. There is a splater of water coming from the exhaust when reving the engine but I guess this is just condensation when it is warming up from cold ????
If it is the head gasket or head does anyone have any idea roughly how much this will cost to get repaired.
Can anyone recommend a good trustworthy MX5 mechanic in Perth preferably south of the river.
Thanks for your help in advance
