Bounce explosive, eliminating dam finally (3)

I believe the answer is:

bob

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'bounce' is the definition.
(I've seen this before)

I cannot understand how the rest of the clue works.

(Other definitions for bob that I've seen before include "Quick curtsey" , "Curtsy quickly" , "Hairstyle cut shortly and evenly all round" , "short hair" , "Briefly curtsey" .)

I've seen this clue in The Times.

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