Machining of the plate and ring are done. I made a 1/4" thick disk out of aluminum with a 1/4-20 hole in the center to hold the ring in place while tack welding. Disk will get removed before final welding. 1/4" hole in the plate can serve as a hanging hole for going on the pegboard, but being centered, the part may want to choose its own random orientation. I may add another 1/4" hole closer to one of the ends...