Recommissioning my old Lizard..

[RetroDavy]

I'd have a double check of the limit screws, tension (cable and B) screws and chain length, per Sheldon. If after that it's the hanger and / or the mech' you'll have eliminated those variables:

"Derailer Adjustment" https://www.sheldonbrown.com/derailer-adjustment.html

 

[RetroDavy]

PS recommissioning childhood bikes, very satisfying in my experience

 

[Stretch79]

Wow! This was one of my bikes when I was a kids. Loved it and the paint job. Need to see this

 

[eric_james]

steel wheels look good they used to rust a lot

 

[Tube Screamer]

Above would be a suitable replacement, or you can see if anyone on here has a period one like yours (or ebay)

Thank you for the link.. they actually have one of those in stock at my local Halfords too.
It’d be nice to get an original unit, but finding a NOS example might prove a lengthy search.. I’ve looked on eBay, but can’t see one the same at the moment..

 

[Tube Screamer]

steel wheels look good they used to rust a lot

Thankfully these aren’t too bad.. there are a few spots, but nothing to make them look untidy.

 

[Tube Screamer]

Wow! This was one of my bikes when I was a kids. Loved it and the paint job. Need to see this

I always loved mine.. the paint job was really unique.
Here’s mine

 

[Tube Screamer]

Unsure if it's just me, but the first picture I do fancy the hanger is bent inwards a touch.

Even if it's not, given the fact it may be worn out you could maybe try bending the hanger out slightly so as the cage is aligned better, as a temporary measure while you source a replacement (if originality is important)

I’ve looked again and still believe that the hanger is not bent.. I’ve taken another picture.. it’s really difficult to capture what the eye sees. But if you look at the angle of the upper jockey wheel in comparison to the cluster gears.. it’s not only cambered in towards the wheel, but also has some toe in. This can easily be rectified by pulling on the ‘play’ in the derailleur joints, but as soon as it’s released, it returns to the odd angle..

 

[Tube Screamer]

I'd have a double check of the limit screws, tension (cable and B) screws and chain length, per Sheldon. If after that it's the hanger and / or the mech' you'll have eliminated those variables:

"Derailer Adjustment" https://www.sheldonbrown.com/derailer-adjustment.html

Thanks for the link, I will double check the adjustment’s just to be certain that it can’t be rectified, if only temporarily

 

[Tube Screamer]