Wow, ouch! That looks like a setback, but if there are no extra pieces of cast iron around, it may have been broken before and "fixed" with loctite, or something. I would be tempted to force it back together with JB Weld and try to get a little engagement back on the screw threads, perhaps with some judicious filing. It just has to work long enough to thread a new collar. There are probably enough cast iron bits to hold the screw in, if not, a temporary aluminum plate can do the job.