Ahh I make lube like that in sticks, but never used it as a pill. I set a hunk in a candy tin lid. Set that over a candle and soak cast slugs to fill the recesses in the base made to hold lube. Then I move the tin off the heat and allow the lube to set up.
The same can be done with wads.. I don't use common candle wax though and mainly use sheep tallow, and bee's wax. Any oils are reneder oils from beef with little to no salts, bea oils, racoon oils, all rendered to be oil and not grease.
The way I make these oils is add them to water in a pan and boil it a while. Crap tends to sink, and once cooled the oil remains on top of the grease which is clean and white. With a butter knife I make an opening in the grease to pour the water out, and the oil moves slow enough to be spooned off before I pour the water. You get oils in amounts related to how much fat and grease you used.
Hamburger oils seem as good, so long as it isn't rancid before you start. In that case I can use a common food can like peas come in, full of grease, with maybe as much water in the pan, and get enough oils to run a sea shell and moss wick lamp. I use these oils to flux casting lead as well.
There is some smell and I seem to ge hungery doing this...