
Q1 and Q2 make up an astable multivibrator (flip-flop) that drives the base of Q3 at a frequency somewhere in the AM band.  The signal is a square wave.  Frequency determined by C1/R2 and C2/R3.
It would be fun to try that circuit.  It probably won't produce buzz because the multi-vibrator is oscillating at the fundamental broadcast frequency. But it will be rich in harmonics above the broadcast band.  A tuned antenna circuit would help reduce the harmonics.
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