I grinded from the bottom until the stud was flush with the pan. Then I punched what was left of the stud at the top through the existing hole. No problem. I just have to get me a nice galvanized carrage bolt. POR15 the whole mess and touch up the undercoat in the spot where the damage was done. I re-undercoated the car last year with SKS stoneguard. That is probably why I posted this no brainer problem. I hated cutting into my undercoat and I needed some moral support.
I can assure you it doesn't look that way anymore...