My Prazzi lathe is a metal lathe.
You can see the tool holder, the blue cutting tool is mounted in it.
The tool holder is a turret tool holder that rotates. It can hold a few different cutters @ the same time and rotates so you can use the tool you want.
I used to get most of my balsa @ Hobby Hobby in Streetsville.
I actually got a batch last time I came to visit.
Really need to do something with it.