I'd also add that they way you have that set up, it'll pivot on the frame lug, ovalling the hole and wearing the bolt at two points. It'll land up clunky-loose in no time. You normally have a tube of some description between the front flats of the saddle frame which is attached rigidly to the bike frame so the bolt pivots inside the tube.
I drilled a bit of alloy for the pivot and bolted it to the bike frame lug with a big M10 stud (I helicoiled the thread in the alloy, wasn't man enough).
This area is subjected to a surprising amount of force.
Here's my trials seat. The tube in the frame bracket is a tight fit, it's not free to rotate. I had to replace this frame bracket, welded a new one on because the original was hopelessly ovalled by a pin rotating in it to the point it split.
Here's the "standard" seat on my 612 showing the alloy pivot block I fabricated. Dead simple, a hole all the way through and one up into the bottom at 90 degrees with a stud in it to attach it to the bike. I've even got nyon washers either side to take up any slack and ensure it remains free to pivot slightly.
