Preheat oven to 350 F. Lightly grease mini bunt pans. Place a ring of peach slices on the bottom of 4 mini bundt pans.
In a small saucepan, melt butter with sugar & molasses on a low heat. Remove from heat & set aside.
In a bowl, whisk together flour, baking soda, oatmeal & spices. Add beaten egg, milk & molasses mixture. Mix until well blended.
Divide the cake batter over peach slices in prepared bundt pans.
Bake about 15 minutes or until a toothpick inserted into the center comes out clean. Move to cooling rack & flip upside down. Remove pans & allow to cool.
Serve with cranberry sauce, gingerbread syrup, whipped cream or just simply sprinkled with powdered sugar.