27 Nov 14 13:35, you wrote to you:

 BF>> Directly complains about the flag "-mno-cygwin"

 BF>    And waddaya know... When I simply removed that flag it all compiled
 BF> (with just a couple of warnings).

You got further than me. I tried using MingW supplied with Codeblocks:

C:\src\binkd>mingw32-make
"-----------------------------------------------------------"
"binkd type : mingw32"
"output dir : bin/mingw32-binkd"
"binkd exe  : binkd-mingw.exe"
"-----------------------------------------------------------"
Making directory bin/mingw32-binkd...
The syntax of the command is incorrect.
mingw32-make: *** [bin/mingw32-binkd] Error 1

Hmm. Evidently from all the forward slashes in the Makefile, it's expecting to
be built from within a Cygwin environment, not with the regular MingW tools.

 BF>    So, what is that flag actually supposed to do?

mno-cygwin is basically for building Windows binaries that don't depend on the
Cygwin DLLs. Apparently deprecated in GCC 4.7, though.

--- GoldED+/BSD 1.1.5-b20130910