Three men in black wetsuits were spearfishing near Forster on the NSW Mid North Coast when another dark shape came up underneath them.
It was a big shark, and despite being armed, the fishers made a very hasty exit.
The predator slid directly underneath them.
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One of the men lost a flipper in the sudden scramble but gamely turned back, retrieved his fin and escaped.
Swimmers were cleared from the water after the shark was spotted via drone flying above.
Emily Howman, who was controlling the device, said she was worried to see the shark swim towards the people.
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"I couldn't even warn them," she said.
"It was abject fear that something bad would happen and all I'd be able to do was watch."
The shark didn't seem interested in the swimmers or fishers and glided away.
