Please have a look at CMakeLists.txt first and ensure the paths to the TagLib and cdrapanoia include dirs and libs are set properly.
(You'll need the TagLib and cdparanoia devel packages.)

mkdir build
cd build
cmake -DCMAKE_INSTALL_PREFIX=`kde-config --prefix` ..
make
sudo make install

(make install DESTDIR=$HOME/tempdir makes a test installation into $HOME/tempdir)