Harvey,
Sorry, can't agree with Zaphod on this one. The 'sender' is located on the top of the gearbox casing down the back of the engine. it is retained by one 'Torx' bolt which can be a pig to loosen. There's very little space and it's difficult to get enough downward pressure to stop the bit from 'camming' out.
The sender is gear driven from a little nylon gear on the differential crown wheel. If this, and the gear that is part of the sender gets worn then you will loose the speedo. THIS IS A BAD THING. The engine ecu gradually looses the place and running becomes very rough. Stalls every time you slow down etc.
If you're lucky, replacement of the gear attached to the sender gives enough engagement for it to work, if not then it's a 'box out and strip job. Of ourse it could just be that the sender is goosed, the connector has fallen off or there is a wiring fault. Unforunately my experiences fall in the middle ground.
Paul @ Kippen.