John,
You can either replace the pedal with a used one with the hole in better
condition (not that easy to find), remove the existing pedal and have the
hole welded up then redrilled to size, or attempt to sleeve the hole using
JB Weld to hold the sleeve in place.
The latter method I recall one fellow doing many years ago. Not so sure
about its longevity but he did use a special steel, not the mild steel you
typically come across. The best solution I believe is to weld the hold up
and redrill it.
Greg Dito
CD6250L
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