Well the pellet should take what it can in a coating but, like my rag the excess will remain on the rag. I put the rag in a clean container with lid ( clean sour cream type). And reuse it over and over when I do another tin just giving it a spot of refresh lube time to time. I probably do 2 or 3 tins on the rag before I need to add a bit more lube to it to keep it " primed" .
Edit..
Anyway once I get the rag saturated just right then lube some pellets I just put that rag up and keep on reusing it . Just periodically checking with a finger rub on if I need to add a drop or two lube or still plenty soaked in to do another tin or 2 .. you really save on your lube use/cost this way instead of having a to start a new rag everytime..
View attachment 399521 That one rag as done a many a tin ... Many.
Anyway what you find best for you is best ..
Good luck.