muzzman, welcome to the wonderful world of smokemakers and rockbangers.
if you don't want to bear the expense of a 'production pot' (a clever gadget with a heating coil in the bottom and a little valve that lets the lead pour from the bottom), you can go with a small cast iron pot which is easily heated by a torch.
i've used scrap lead for years with good effect. he are a few pointers which work for me, and which i hope will also work for you.
! use 'pure' lead if at all possible. lead with other metals mixed in (usually tin or antimony) will be harder and you may have more trouble getting a load which works well for you... patch ball combinations get tricky with harder lead. imho. you don't need a hardness tester (unless you really want one for some reason)... if you can dent the lead with a thumbnail, it's probably soft enough to cast as roundball.
!! do all this outside. lead vapor/fumes, as well as lead particles, are really really really bad for you. (insert tirade here)
!!! do not eat or drink anything while you are casting (see above). be sure to wash your hands thoroughly when you're done.
!!!! melt up the lead in the pot, put in a small (green pea or thereabouts) sized ball of wax (i use beeswax from a fellow who gave me a bunch of it). you don't have to use beeswax, there are a number of fluxes which will work fine. this will flux the metal and help bring impurities to the top, where you can skim them off with a spoon. the spoon will be instantly ruined for any other use, so use an old nasty one.
when you pour the lead from the dipper into the mold, try to use a smooth motion and fill the mold and the sprue. let it cool for a few seconds and tap on the sprue cutter with a pit of hardwood scrap (i use a hunk of split firewood, and when it gets busted up, i put in back in the firewood box and fetch a new one) don't use a hammer or you will eventually damage your mold.
one final note of caution: don't let any water get around the operation. if even a small drop of water lands in the pot, the heat of the melted lead will superheat the water and you'll get instant steam, and molten lead will splash all over. (another good reason not to eat or drink anything while you cast).
good luck and good casting
msw