I believe the way mine works is the spring is on that bolt. That bolt has a spring on it. When turning the bolt it puts more or less spring tension against the chain.
Set it where you want it, then tighten the outside jamb nut to hold it there.
I can't quite picture what you have. Can you get a pic of the outside and inside of your tensioner- if you haven't filled the gear case with oil yet?
Here's why: If you don't have enough tension on the chain, the chain will slip under load and can damage the chain or sprockets. If too much tension, the chain cannot slip as designed when hitting a sudden, large shock load (rock, root, etc)
We want your hard work restoring this equipment to get it back the way it should be and in proper working condition.
- JC