At first glance, this circuit appears to be just a primitive microphone amplifier. Why then is the title of this article
‘Three-component Oscillator’? The answer is very simple:
the microphone is not intended to pick up speech; instead, it is placed so close to the loudspeaker that massive positive feedback occurs. Here we intentionally exploit an effect that is assiduously avoided in public-address systems — the positive feedback results in a terribly loud whistle. The loudspeaker is connected directly to the 12-V supply voltage and the power transistor, so it must be able to handle a power of at least 1.5 W, and it should have an impedance of 8 to 16 Ω. An outstanding candidate can be cannibalised
from an old television set or discarded speaker box. The microphone should be a carbon-powder type from an old-fashioned telephone handset. If you place a switch in series with the power supply, this sound generator can also be used as an effective doorbell or siren. Surprisingly enough, the circuit can also be used as a simple microphone amplifier — hardly hi-fi, of course, but still usable.
source : P. Lay - Elektor Circuit Collections