Hand slice the loaf into 2 thick slices (thicker than store bought).
Coat one side of the bread in butter and VEGEMITE.
Coat the other side in Mayonnaise.
With Mayonnaise face down, place the grated cheese(s) on top of the VEGEMITE.
Heat fry pan on medium to low setting.
Place the slices of bread mayonnaise side down in the fry pan.
Cook until the cheese begins to melt.
Place one side on top of the other to close the sandwich.
Keep turning on each side until golden brown and the cheese has melted.