I want to be able to make custom ferrules for my walking sticks. Logically I should just buy an engineering lathe, but I have a serious space problem and frankly, can't make room for more machines. My ferrules will all be non ferrous metals (brass, aluminium, copper). I have an AC370WL and I understand that in theory this could cope with such material. I'm able to rough cut brass with just hand tools, but to get the precision that I need I think I will need something more akin to engineering lathe features. So quick googling shows that adding a cross slide and tool post to a woodworking lathe isn't exactly a novel concept so I would like to move forward with this. However, I have no experience with metal working so before I start blindly buying parts, I was hoping somebody here could cast an eye over what I have in mind and maybe make alternative suggestions.
www.vevor.co.uk
Particularly as I'm new to this and don't have high expectations that this will work, I'd like to keep this below £200, or at least the initial outlay to prove the concept, if I need to improve tools for efficiency later, then that's fine. I guess I'll need a parting tool and some other tools. No idea what I'm doing there though.
So, does anybody think my plan will allow me to turn ferrules?

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Weytoll Quick Change Tool Lathe Tool Holder Post Cutter Holder Screw Kit Y0V4 | eBay
You can choose corresponding knife holder to process lathe outside garden, lathe end face for cutting off, knurling, drilling, boring, reaming processing, etc. Use of multiple lathe toolholders form an artificial tool magazine, you can repeat to replace the toolholder.
www.ebay.co.uk
Particularly as I'm new to this and don't have high expectations that this will work, I'd like to keep this below £200, or at least the initial outlay to prove the concept, if I need to improve tools for efficiency later, then that's fine. I guess I'll need a parting tool and some other tools. No idea what I'm doing there though.
So, does anybody think my plan will allow me to turn ferrules?