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First off, buy the newest copy of the Lyman Cast Bullet Manual, if you don't have it already. I think it's volume four; it was written primarily by Mike Venturino. It will answer many of your questions.
The hole in the base of the bullet (does it look like it's torn out?) is caused by cutting the sprues when they are still too hot. If a mold is not filling properly, it won't cause a hole in the center, but will show up as rounded edges around the bases. Two different problems with two different causes.
I always run two molds at once. Alternating them allows one to cool sufficiently to cut the sprues while you are filling the other one. If you are running just one mold, you will spend a good deal of time waiting for those sprues to cool. Most folks get impatient and rush it, and wind up tearing holes in the bases. That, and lead starts to smear across the tops of the block and the bottom of the sprue plate.
If you only have one mold, well... get another, for something else you shoot a lot. I stay away from aluminum molds. I have several from LBT that I only hang onto because they throw a pretty unique bullet that shoots well and are quite heavy for caliber. I like the bullet enough to put up with the aluminum mold, but otherwise, it's iron for me all the way. They hold temperature much more consistently, making casting far easier. Lyman, RCBS, and Saeco all make outstanding molds from cast iron (mechanite, actually) . Far, far better than anything Lee makes in aluminum.
If, for some reason, you must use a single mold, try this: Place a folded up, damp towel nearby and use it to cool the sprue. Simply let it harden, then flip the blocks over and hold them down on the towel. You'll have to flip and refold the towel often to keep it wet, but it will really speed up cooling, so you can cast much faster. Still better to run two molds, though.
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Jeff
'72 911T 3.0 MFI
'93 Ducati 900 Super Sport
"God invented whiskey so the Irish wouldn't rule the world"
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