Holster appears to be made correctly and the stitching looks right but the SA markings are not my area of knowledge. The DRGM mark looks right too and is in the right place. There's another member here who knows these, be patient and he will probably chime in. Good luck.
You're right Joe; it almost looks like the stud is just floating in the space. It may be reinforced from the rear of the flap with the leather patch.
Erich
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