My rear speakers and tail lights werent working so I decided to take apart the panels and see if theres a problem.
When the bottom of the rear fender rusted out. Big hole, so I was looking for advice on how to cover that up.

I was thinking of removing as much rust as I can, welding a piece of metal over it, and bed lining it. The floorboard is fine (at least in back, have a small hole in driver footwell) , its just the panel.

 

You pretty much answered your own question. That's what I would do.

 

Yeah your right on how to fix it,But i would crawl under it and look for more rust,And check the tailgate gasket see if thats how water got in there.