New Peavey score, need wiring/ pickguard help

[Ozzietx]

I just picked up this Fury really cheap.
I'm gonna have to replace the pickguard because someone
really botched a repaint of the pickguard.
I do leatherwork, and am planning on making a leather pickguard.
So here is my question, the original pickguard had a piece of what looks like shielding attached to the bottom of it.
Do I need to add this piece to my replacement pickguard?
Also, if you look at the attached photo there is an uninsulated wire coming from one of the pots. it seems that this should go somewhere.
Any advice would be appreciated.

 

[Ozzietx]

Here is a better photo of the pot with the bare wire coming from the bottom of it
.

 

[mike77rios]

looks like part of the ground circuit, i bet its NOISEY!!!!

 

[mike77rios]

I just picked up a white 95 Fury. Ive ordered a black pick guard from Peavey and I have a original 62 Fender P bass pickup ordered so next week I'll be doing the mods on it. I plan on redoing the the electronics at the same time just because....