Sift the flour into a large bowl. Make a well in the centre.
Whisk together the milk and eggs in a large jug.
Add the milk mixture to the flour mixture, whisking constantly until a smooth batter forms.
In a microwavable bowl mix the butter and VEGEMITE and heat until melted. Stir the butter and VEGEMITE mixture into the larger bowl. Cover with plastic wrap and place in the fridge for 30 minutes to rest.
Heat a large non-stick frying pan over medium heat. Brush with melted butter to lightly grease.
Pour 1/3 cup of the batter into the pan to form a 15cm-diameter pancake. Cook for 2-3 minutes or until bubbles appear on the surface and the pancake is golden underneath. Turn and cook for a further 1-2 minutes or until golden. Transfer to a plate and cover with a clean tea towel to keep warm.
Repeat, in 7 more batches, with melted butter and remaining batter, reheating pan between batches, to make 8 pancakes.