Good question on construction but one I suspect that cannot be categorically answered with 100% certainty for a variety of reasons.
Whilst requiring very low production numbers nevertheless spanning the period 1908-20 there’s potential for several orders and numerous manufacturers to have been involved and therein variations, especially during WW1.
So the answer to your question could be all of the above with respect to badges.
Drawing inference from the 7th (Cyclist) Bn, The Welsh Regiment I’m of the conviction that the distinctive Lambourne badges often found blackened are Cyclists badges. My view was reinforced by a photo shown on the forum earlier this year which showed a badge with very similar asymmetrical plumes. Julian’s research on wartime badge orders is also very helpful on this topic and an invaluable primary source.
I too like Deejayus badge with the brass overlay, I was a little surprised to hear it did not have a braze hole but don’t think this detracts from it.
Something else to bear in mind recalling the late Professor Charles Thomas collection is him gap filling several rare bronzed/blackened version badges by DIY paint jobs - thankfully he used glossy modern acrylics so it was obvious. However, the E Yorks Cyclists is definitely one to be careful of as no doubt others, have given a normal badge the same treatment perhaps with older more period paint.
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