G'day Alex,
that should work ok, except that you might want to deviate from noon a bit to ensure that you align the shadow when the sun is transiting the meridian(not necessarily noon). Today, the Sun transited the Meridian at 1pm DST, wheras on Dec 31st for example, it will transit at 1:10pm DST, so you should check the transit time for each day you want to use this method. Noon (standard time) is just a 'ball park' figure.
Cheers,
Doug
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