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It gets confusing, but the Magnetic north is 11 degrees east of True North. So true north lies 11 degrees west of the compass needle pointing magnetic North. I alsways use an offset on the compass to 11 degrees east and align the mount true north. What you have said is correct if you have no magnetic offset then you set your mount 11 degrees to the east of south to have true South.
Sorry if any confusion but the way I read your post it seemed you were ofsetting the wrong way.
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