A pad is ertainly needed. WEST will work if you thicken it enough as will many other epoxies but a pad (it need not be teak) is nicer as it allows for change and choise.
Many do install with sheetmetal screws and things like fairleads are often low enough load that the distinctly inferior grip of a sheet metal screw will not be a problem. And it's certainly faster to drill one hole and force the screw in. For my own use and for any work I've done for customers, however, I always drill, tap and use a bolt on aluminum masts and booms.
G'luck
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