Dang thats gotta be a big wing nut

Ok I got it figured out. Thanks for the advice Dana67dart. I used a socket, and the shank of a flat bottom punch to enlarge or stretch the hole a bit, then used a 5/16-18 tap on the wing nut. Worked like a charm. A little bit of bead blasting and scrubbing with a wire brush, and some light oil. Like new.

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