Looks like it should run.
It is a very simple use of a quad comparator chip I have lots of. We only use 1 in this case, and I was surprised at how well it worked... so I built some more.
The comparator compares two voltages, and if the + input one is higher than the other the output transistor is turned on, if not then off.
So we have an open collector output to deal with....... which means two things.
1. we need to supply it with voltage on the collector ( via 10k )
2. when the +>- then the transistor is turned on and shorts the collector to ground.... so on is off and off is on.
To see how it works,
1. we use a 10k and a 3v zener to establish a fixed reference voltage on pin 7 ( +input) This gives us a set point that we can use to compare the temp probe to.
2. We set up a voltage divider using the 47k, the 50k pot and the temp probe all seriesed with Vcc to ground.... fed to pin 6 (-input)
3. When the NTC temp goes up, it's resistance comes down, pulling the output of the 50k pot lower and lower
4. When it gets lower than pin 7 voltage, then the comparator will switch off the transistor ( which was shorted to ground when on), and the 10k pull up resistor ( Vcc to pin 1 output) will be able to deliver voltage to the now open circuit collector on pin 1... this voltage then fed to the fet to switch fan on.
Now thats as a comparator, it is on or off..... if we introduce negative feedback into the - input ( pin 6) then we alter the stage gain, and the more feedack we introduce, the lower the gain, and the sharp on/ off behaviour of the comparator is made wishy washy.... thats tech talk for it will now switch on and off before and after the set point, with a voltage slope rather than hard on or off..... this translates to the fet as more or less voltage to the fan/s.
The feedback is introduced at pin 6 via the 50k pot on the right. It takes some of the output through a 10k and then a 50k pot back to the input of pin 6.... so we can change how hard and fast the fans turn on.
I set mine so that as it approaches the set point, the fans wake up and start rotation, silent and slow, then as the set point gets closer, they speed up , if they can stabilise it at low speed then good, else it gets hotter, the fans spin faster until you can hear them... all the way up to full on at the set point... so feedback pot for slope rate.
So thats as simple a fan control as I can come up with, and still work nicely. It could be made a lot more flashy, but it does the job.
Each comparator looks like this. It may help to understand the output inversion......

................oztules