Time for a new timing cover. I think I have seen them at 50resto for around $120. I suppose you could get that one fixed but it would be much easier to replace it. as for the stud just get a long bolt and use washers to space the AC bracket off the water pump.
I would start hunting for a timing cover. Fortunately those bolts are easy to replace and not the double ended ones that hold the accessory brackets. Ford wants 12 bucks a pop for those.
Kevin