It depends if the outside of the threaded side of the hole is flat, otherwise it would need to be counterbored flat for the nut to sit on it. Most stem bolts are M5, the head for an M5 caphead is 8mm diameter. A helicoil would need to be drilled out at 5.4mm from memory and then tapped, so another .4mm per side, there will be plenty of material in there for helicoiling, but it is more expensive than drilling a hole through the thread and filing the back flat of required and using a screw and nut as you suggested.
Just offered my services to the OP as it would take me no time to sort it out properly.