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In a large saucepot, bring the chicken stock and water to a simmer over medium-high heat.
Add the cornmeal and reduce heat to low. Whisk continuously. For me, the mixture thickened after one minute, but you need to break down the meal pieces, so continue cooking and whisking.
After 7 minutes, add the salt and cayenne.
After 14 minutes, add the butter. Whisk until the butter melts. Then, remove it from the heat.
Pour the mixture into a half sheet pan to cool. It will start to congeal. Next, work on the other ingredients.