the old industry recipe for ambergris tincture is as follows: 3% ambra in a 90% ethyl alcohol. alkali is usually added to neutralize acids and to facilitate solution (a 'solubilizer'). age for not less than 6 months.
use weight to come up with the ratio. 3 grams ambergris : 97 grams alcohol.
the tincture can then be concentrated, and become a semi-solid resinoid, i suppose by means of evaporation. this is done to a maximum of 20x, which is called tincture of ambergris 20 fold. it can also be distilled into a resin absolute.
when tinctured with applied heat, it is an infusion. the difference is that the waxes in ambergris aren't fully soluble in cold alcohol, but they are in heated alcohol. the resulting tincture will be less fluid. i suppose you can filter the wax out after cooling for 24 hours in the fridge. btw, apart from that, ambergris it should almost completely dissolve in alcohol.
my first advice is to have some patience.
secondly, be very careful with heating alcohol. if you do feel you need to heat alcohol, make sure it is in a well ventilated room with no fire or sparks, use the au bain marie technique and monitor the temperature constantly. keep the temperature 'warm' but never 'hot'! and never use a container that is tightly sealed. pressure should be able to escape, or the container could explode.