North Broulee beach was evacuated after aerial surveillance spotted a Great White Shark at 12.29pm on Sunday, January 6, the Department of Primary Industries said.
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According to the DPI, the shark is approximately 2.2m long, and was spotted at the Broulee spit.
It follows the closure of North Head and South Head beaches at Moruya, following the sighting of a group of sharks of unknown size and species near North Head at about 7.30am on January 4, 2019.
The beach was later reopened, before being closed again, after two sharks were spotted.
Lifeguards Australia CEO Stan Wall urged swimmers to keep to patrolled beaches and swim between the flags.
January is a common time for shark notifications in Moruya. In 2017 North Head on January 11 was closed after a large shark was seen. It was closed earlier that month for the same reason.