It will work as far as getting the nut on but that sheet metal won't do much more than hold things in place until a crash.

Search around, someone posted a pretty good write up on how they reinforced that mounting point, I think they even did it without a bunch of cutting and welding.

In the event of rear ending someone that point could easily see 500-1000 lbs of load. So design accordingly.

'69 1/2T stepside, Sea Foam Green, 250 L6 w/ 3 on the tree, not an option on it, in the family since new.