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Heat the olive oil in a large stockpot over medium heat. Combine the oats and cinnamon and add them to the pot. Cook and stir until lightly toasted, stirring constantly, 3 to 4 minutes. Pour the oats out onto a large baking sheet and add the butter to the pot. When the butter has melted, stir in the honey, molasses and brown sugar. When the mixture starts to simmer, return the oats to the pot and continue to cook and stir until coated and hot.
Remove from the heat and stir in the almonds and cherries. Pour onto a large cookie sheet and allow to cool. The granola will harden as it cools. When cool, transfer to an airtight container and store at room temperature.