Do it for fun - that's the best reason of all.
JB Weld is OK. It's how you apply it that's most important. Wipe off any oil/dirt/rust as carefully as you can first. A bit of sanding (to the metal plate) wouldn't hurt either. Try to have enough glue to squeeze out around the sides without going overboard. A fillet or a bead of glue all around the edge will keep water from getting between magnet and plate, which would both corrode and freeze/thaw split the joint (if you live where it gets cold enough, of course).