Ray: if you have a friend who can heliarc weld you can just cut the bolt handle off completely and weld it back on in a more favorable position.
If you try to heat and bend it you will alter the heat treat of the bolt body which you don't want to do. Too much of the bolt will suck up heat and once it's to 400 F it will turn blue and it is soft after that.
Here's a pic of my M96 bolt. I went a little farther than just cut and reweld on this one as I wanted the big screw on knob so I had to make the handle with threads on it and a flange for the knob to bottom against.
However the weld back onto the bolt part is exactly the same and is a 10 minute job,as long as you pile enough filler rod onto it so you can make conture without low spots. Also the heat affected area with the heliarc is much less than gas welding or using a torch to bend it.
The reason for the big knob is this rifle is being built as a NM target rifle and with the cock on closing style action the big knob makes it much easier to cycle bolt from the prone or sitting position. Also I can screw on a 1" round knob instead if I want. The threads on the bolt handle are 5/16-18 so any knob with those internal threads will work. Knobs like this are available from McMaster-Carr and other sources. Not expensive at all.
Here's some pics.
Randy