These rivets are just your typical 2### series aluminium, your standard 8-32 UNF stainless hardware is going to have a higher shear strength than the rivets I used. These rivets are worth less than a penny a piece, don't be so easily swayed by the stamp aviation or aerospace grade. The anchor nut is the true space age technology at a whopping 37/cents.
This will definitely work, so will a simple thread piece of flat bar radius'd. The only problem I see is that the stud portion on the nut is likely taller than the thickness of the handguard, requiring some sanding to actually be able to sandwich the material of the handguard. Keep in mind you have to index the stud properly to get the opening 90deg to the center line of the handguard. I got lucky, I imagine some creative washer work may be necessary for some.
An important step is to find the center line, find where you want to mount the stud and to then spot face that exact location so you have a flat surface to mount to. My reticle is so far 100% true on a non-swivel bipod, I can't confidently say you'll have the same experience if you mount to a radius.