Emulsification need a given temperature, most emulsifiers work about 70C degree, so for low temperatures you need special, "cold" emulsifier; and you don't tell us that emulsifier was used in lotion. Some are not compatible with each other, so you can't put in any available emulsifier. Quite often emulsions don't forms, then changes proportions between ingredients. When heated, they lost about 5-10percent water, so you need compensate this amount. If you try heat and mix few ml, like you recieved good advice, and see that emulsion don't formed - add little distilled water, or hydrosol, and mix again.
Many good info you can find in this blog: http://swiftcraftymonkey.blogspot.com/2012/02/emulsifiers-check-what-youve-got.html
But be carefull, please, test product in small skin area. It can be harmful for you skin. I can't garantee, that such product can be safe. We don't eat changed food, so...
Beeswax is not emulsifier; it is thickener.