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@loafheads
thanks for all the suggestions.
I got the magnet ball out of the seatpost bolt. I tried to epoxy something to it but it didnt hold.
I was going to drill the bolt out and replace it with a new one but then I just drilled a tiny pilot hole into the bolt next to the ball and using a safety pin I popped out the magnet ball.
saved the bolt and damage to the frame with a tiny hole placed in a strategic location.