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Watch: 'There's a big shark down there' – intimidating great white shark filmed off Waikato coast by stunned fishermen

Some gung-ho fishermen off the Waikato coast have filmed an intimidatingly-large great white shark beneath the water's surface as it circled their boat over the weekend.

The footage was taken about 300 metres offshore from Ruapuke Beach by Jason Innes, who was out fishing with his dad and two other mates when they had the close encounter.

"I've always been fascinated by great whites so it was a true bucket list moment for me," Mr Innes told 1 NEWS.

He estimated the shark to be around 12-13 feet in length and as soon as Mr Innes saw it he grabbed his camera and chucked it in the water to capture footage.

Mr Innes says he was concerned that the shark was close to surfers at the beach, but decided against moving his boat closer to shore to warn them as the burley they were using might have pulled the shark in with them.

A warning was posted to an NZ surfers Facebook page about the shark.