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Preheat grill on medium-high. Place the olives, 1 tablespoon of the oil and the parsley in the bowl of a small food processor, and process until coarsely chopped. Taste and season with pepper. Set aside until required.
Place bread on a baking tray and brush with remaining oil. Cook under preheated grill, about 6cm from the heat source, for 30-40 seconds or until toasted. Turn bread and spread with olive paste. Cook for a further 30-40 seconds or until olive paste is heated through. Serve immediately.