From FB group Building Transistor Radios
Willie Barnett
I see from the schematic that this is a reflex regen. They did something else that is very seldom seen, the volume control acts not as a normal variable voltage divider, but instead as a variable shunt load across the secondary of the driver transformer. This is to provide a load at audio frequencies to the reflex stage. It’s not a good design because the secondary of the driver transformer is nearly shorted at low volume levels.