I recently spoke to the management. The asset is advanced and stock decimated.
What I like about the asset is that the company send the mined ore or dirt to an Xtrata processing plant near the mine where it is processed into concentrate. Xtrata collect their processing fees and the company sells the whole product back to xtrata and market price less some discount. The benefit of this model is that the company wouldnt have to spend hundreds of millions of dollar in building a processing plant. They only mine and sell the mined ore.
Disclosure: EOIM recently bought 500,000 shares of CRO