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@TRA
Got the bolt out. The material of the bolt did not seem to be that hard?
Basically, I used a tiny drill bit (2mm or so) and drilled a small bore through the remains of the bolt while VERY carefully avoiding the edges of the stem. this was surprisingly easy.
Then, not having an extractor I found a small, long self tapping screw and screwed it in until the threads just started to bite.
Once that happened the resistance of the threads allowed me to turn the bolt stub the rest of the way out of it's thread.
Woo! Stem rescued. I bought some replacement SS bolts from Clerkenwell Screws, 6 Stainless M5 10mm for 2 quid is good I think. Although they are not nice socket cap head bolts.
Will be ordering some better replacement from here:
http://www.pro-bolt.com/Products/000500140002
Hope that all makes sense, just in case anybody has a similar issue.