This is the output:
cd include && make DESTDIR="" libs
make[1]: Entering directory `/home/Marco/ncurses-5.9/include'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/home/Marco/ncurses-5.9/include'
cd ncurses && make DESTDIR="" libs
make[1]: Entering directory `/home/Marco/ncurses-5.9/ncurses'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/home/Marco/ncurses-5.9/ncurses'
cd progs && make DESTDIR="" libs
make[1]: Entering directory `/home/Marco/ncurses-5.9/progs'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/home/Marco/ncurses-5.9/progs'
cd panel && make DESTDIR="" libs
make[1]: Entering directory `/home/Marco/ncurses-5.9/panel'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/home/Marco/ncurses-5.9/panel'
cd menu && make DESTDIR="" libs
make[1]: Entering directory `/home/Marco/ncurses-5.9/menu'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/home/Marco/ncurses-5.9/menu'
cd form && make DESTDIR="" libs
make[1]: Entering directory `/home/Marco/ncurses-5.9/form'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/home/Marco/ncurses-5.9/form'
cd test && make DESTDIR="" libs
make[1]: Entering directory `/home/Marco/ncurses-5.9/test'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/home/Marco/ncurses-5.9/test'
cd c++ && make DESTDIR="" libs
make[1]: Entering directory `/home/Marco/ncurses-5.9/c++'
make[1]: Nothing to be done for `libs'.
make[1]: Leaving directory `/home/Marco/ncurses-5.9/c++'
/bin/sh ./mk-dlls.sh
Target: mingw32
/tmp/tmp-dll ~/ncurses-5.9
~/ncurses-5.9
Building DLLs and Import Libraries for Win32

/tmp/tmp-ncurses ~/ncurses-5.9/lib ~/ncurses-5.9

gcc -shared -o wncurses.dll -Wl,--out-implib,libwncurses.dll.a -Wl,--output-def,wncurses.def -Wl,--enable-auto-import hardscroll.o hashmap.o lib_addch.o lib_addstr.o lib_beep.o lib_bkgd.o lib_box.o lib_chgat.o lib_clear.o lib_clearok.o lib_clrbot.o lib_clreol.o lib_color.o lib_colorset.o lib_delch.o lib_delwin.o lib_echo.o lib_endwin.o lib_erase.o lib_flash.o lib_gen.o lib_getch.o lib_getstr.o lib_hline.o lib_immedok.o lib_inchstr.o lib_initscr.o lib_insch.o lib_insdel.o lib_insnstr.o lib_instr.o lib_isendwin.o lib_leaveok.o lib_mouse.o lib_move.o lib_mvcur.o lib_mvwin.o lib_newterm.o lib_newwin.o lib_nl.o lib_overlay.o lib_pad.o lib_printw.o lib_redrawln.o lib_refresh.o lib_restart.o lib_scanw.o lib_screen.o lib_scroll.o lib_scrollok.o lib_scrreg.o lib_set_term.o lib_slk.o lib_slkatr_set.o lib_slkatrof.o lib_slkatron.o lib_slkatrset.o lib_slkattr.o lib_slkclear.o lib_slkcolor.o lib_slkinit.o lib_slklab.o lib_slkrefr.o lib_slkset.o lib_slktouch.o lib_touch.o lib_tstp.o lib_ungetch.o lib_vidattr.o lib_vline.o lib_wattroff.o lib_wattron.o lib_winch.o lib_window.o nc_panel.o safe_sprintf.o tty_update.o varargs.o memmove.o vsscanf.o lib_freeall.o expanded.o legacy_coding.o lib_dft_fgbg.o lib_print.o resizeterm.o use_screen.o use_window.o wresize.o access.o add_tries.o alloc_ttype.o codes.o comp_captab.o comp_error.o comp_hash.o db_iterator.o doalloc.o entries.o fallback.o free_ttype.o getenv_num.o home_terminfo.o init_keytry.o lib_acs.o lib_baudrate.o lib_cur_term.o lib_data.o lib_has_cap.o lib_kernel.o lib_keyname.o lib_longname.o lib_napms.o lib_options.o lib_raw.o lib_setup.o lib_termcap.o lib_termname.o lib_tgoto.o lib_ti.o lib_tparm.o lib_tputs.o lib_trace.o lib_ttyflags.o lib_twait.o name_match.o names.o read_entry.o read_termcap.o setbuf.o strings.o tries.o trim_sgr0.o unctrl.o visbuf.o alloc_entry.o captoinfo.o comp_expand.o comp_parse.o comp_scan.o parse_entry.o write_entry.o define_key.o hashed_db.o key_defined.o keybound.o keyok.o version.o lib_driver.o gettimeofday.o wcwidth.o win_driver.o tinfo_driver.o
lib
   Creazione della libreria wncurses.lib e dell'oggetto wncurses.exp in corso...
~/ncurses-5.9/lib ~/ncurses-5.9

panel
/tmp/tmp-panel ~/ncurses-5.9/lib ~/ncurses-5.9
   Creazione della libreria wpanel.lib e dell'oggetto wpanel.exp in corso...
~/ncurses-5.9/lib ~/ncurses-5.9
menu
/tmp/tmp-menu ~/ncurses-5.9/lib ~/ncurses-5.9
   Creazione della libreria wmenu.lib e dell'oggetto wmenu.exp in corso...
~/ncurses-5.9/lib ~/ncurses-5.9
form
/tmp/tmp-form ~/ncurses-5.9/lib ~/ncurses-5.9
   Creazione della libreria wform.lib e dell'oggetto wform.exp in corso...
~/ncurses-5.9/lib ~/ncurses-5.9
/tmp/tmp-ncurses_g ~/ncurses-5.9/lib ~/ncurses-5.9

gcc -shared -o wncurses_g.dll -Wl,--out-implib,libwncurses_g.dll.a -Wl,--output-def,wncurses_g.def -Wl,--enable-auto-import hardscroll.o hashmap.o lib_addch.o lib_addstr.o lib_beep.o lib_bkgd.o lib_box.o lib_chgat.o lib_clear.o lib_clearok.o lib_clrbot.o lib_clreol.o lib_color.o lib_colorset.o lib_delch.o lib_delwin.o lib_echo.o lib_endwin.o lib_erase.o lib_flash.o lib_gen.o lib_getch.o lib_getstr.o lib_hline.o lib_immedok.o lib_inchstr.o lib_initscr.o lib_insch.o lib_insdel.o lib_insnstr.o lib_instr.o lib_isendwin.o lib_leaveok.o lib_mouse.o lib_move.o lib_mvcur.o lib_mvwin.o lib_newterm.o lib_newwin.o lib_nl.o lib_overlay.o lib_pad.o lib_printw.o lib_redrawln.o lib_refresh.o lib_restart.o lib_scanw.o lib_screen.o lib_scroll.o lib_scrollok.o lib_scrreg.o lib_set_term.o lib_slk.o lib_slkatr_set.o lib_slkatrof.o lib_slkatron.o lib_slkatrset.o lib_slkattr.o lib_slkclear.o lib_slkcolor.o lib_slkinit.o lib_slklab.o lib_slkrefr.o lib_slkset.o lib_slktouch.o lib_touch.o lib_tracedmp.o lib_tracemse.o lib_tstp.o lib_ungetch.o lib_vidattr.o lib_vline.o lib_wattroff.o lib_wattron.o lib_winch.o lib_window.o nc_panel.o safe_sprintf.o tty_update.o varargs.o memmove.o vsscanf.o lib_freeall.o expanded.o legacy_coding.o lib_dft_fgbg.o lib_print.o resizeterm.o trace_xnames.o use_screen.o use_window.o wresize.o access.o add_tries.o alloc_ttype.o codes.o comp_captab.o comp_error.o comp_hash.o db_iterator.o doalloc.o entries.o fallback.o free_ttype.o getenv_num.o home_terminfo.o init_keytry.o lib_acs.o lib_baudrate.o lib_cur_term.o lib_data.o lib_has_cap.o lib_kernel.o lib_keyname.o lib_longname.o lib_napms.o lib_options.o lib_raw.o lib_setup.o lib_termcap.o lib_termname.o lib_tgoto.o lib_ti.o lib_tparm.o lib_tputs.o lib_trace.o lib_traceatr.o lib_tracebits.o lib_tracechr.o lib_ttyflags.o lib_twait.o name_match.o names.o read_entry.o read_termcap.o setbuf.o strings.o trace_buf.o trace_tries.o tries.o trim_sgr0.o unctrl.o visbuf.o alloc_entry.o captoinfo.o comp_expand.o comp_parse.o comp_scan.o parse_entry.o write_entry.o define_key.o hashed_db.o key_defined.o keybound.o keyok.o version.o lib_driver.o gettimeofday.o wcwidth.o win_driver.o tinfo_driver.o
lib
   Creazione della libreria wncurses_g.lib e dell'oggetto wncurses_g.exp in corso...
~/ncurses-5.9/lib ~/ncurses-5.9

panel_g
/tmp/tmp-panel_g ~/ncurses-5.9/lib ~/ncurses-5.9
   Creazione della libreria wpanel_g.lib e dell'oggetto wpanel_g.exp in corso...
~/ncurses-5.9/lib ~/ncurses-5.9
menu_g
/tmp/tmp-menu_g ~/ncurses-5.9/lib ~/ncurses-5.9
   Creazione della libreria wmenu_g.lib e dell'oggetto wmenu_g.exp in corso...
~/ncurses-5.9/lib ~/ncurses-5.9
form_g
/tmp/tmp-form_g ~/ncurses-5.9/lib ~/ncurses-5.9
   Creazione della libreria wform_g.lib e dell'oggetto wform_g.exp in corso...
~/ncurses-5.9/lib ~/ncurses-5.9

/tmp/tmp-ncursest ~/ncurses-5.9/lib ~/ncurses-5.9

gcc -shared -o wncursest.dll -Wl,--out-implib,libwncursest.dll.a -Wl,--output-def,wncursest.def -Wl,--enable-auto-import hardscroll.o hashmap.o lib_addch.o lib_addstr.o lib_beep.o lib_bkgd.o lib_box.o lib_chgat.o lib_clear.o lib_clearok.o lib_clrbot.o lib_clreol.o lib_color.o lib_colorset.o lib_delch.o lib_delwin.o lib_echo.o lib_endwin.o lib_erase.o lib_flash.o lib_gen.o lib_getch.o lib_getstr.o lib_hline.o lib_immedok.o lib_inchstr.o lib_initscr.o lib_insch.o lib_insdel.o lib_insnstr.o lib_instr.o lib_isendwin.o lib_leaveok.o lib_mouse.o lib_move.o lib_mvcur.o lib_mvwin.o lib_newterm.o lib_newwin.o lib_nl.o lib_overlay.o lib_pad.o lib_printw.o lib_redrawln.o lib_refresh.o lib_restart.o lib_scanw.o lib_screen.o lib_scroll.o lib_scrollok.o lib_scrreg.o lib_set_term.o lib_slk.o lib_slkatr_set.o lib_slkatrof.o lib_slkatron.o lib_slkatrset.o lib_slkattr.o lib_slkclear.o lib_slkcolor.o lib_slkinit.o lib_slklab.o lib_slkrefr.o lib_slkset.o lib_slktouch.o lib_touch.o lib_tstp.o lib_ungetch.o lib_vidattr.o lib_vline.o lib_wattroff.o lib_wattron.o lib_winch.o lib_window.o nc_panel.o safe_sprintf.o tty_update.o varargs.o memmove.o vsscanf.o lib_freeall.o expanded.o legacy_coding.o lib_dft_fgbg.o lib_print.o resizeterm.o use_screen.o use_window.o wresize.o access.o add_tries.o alloc_ttype.o codes.o comp_captab.o comp_error.o comp_hash.o db_iterator.o doalloc.o entries.o fallback.o free_ttype.o getenv_num.o home_terminfo.o init_keytry.o lib_acs.o lib_baudrate.o lib_cur_term.o lib_data.o lib_has_cap.o lib_kernel.o lib_keyname.o lib_longname.o lib_napms.o lib_options.o lib_raw.o lib_setup.o lib_termcap.o lib_termname.o lib_tgoto.o lib_ti.o lib_tparm.o lib_tputs.o lib_trace.o lib_ttyflags.o lib_twait.o name_match.o names.o read_entry.o read_termcap.o setbuf.o strings.o tries.o trim_sgr0.o unctrl.o visbuf.o alloc_entry.o captoinfo.o comp_expand.o comp_parse.o comp_scan.o parse_entry.o write_entry.o define_key.o hashed_db.o key_defined.o keybound.o keyok.o version.o lib_driver.o gettimeofday.o wcwidth.o win_driver.o tinfo_driver.o
write_entry.o:write_entry.c:(.text+0xb9e): undefined reference to `getwd'
collect2.exe: error: ld returned 1 exit status
lib
   Creazione della libreria wncursest.lib e dell'oggetto wncursest.exp in corso...
mv: cannot stat `wncursest.dll': No such file or directory
~/ncurses-5.9/lib ~/ncurses-5.9

panelt
/tmp/tmp-panelt ~/ncurses-5.9/lib ~/ncurses-5.9
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libpanelt.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libpanelt.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libpanelt.a: No such file or directory
C:\MinGW\bin\ar.exe:    Creazione della libreria wpanelt.lib e dell'oggetto wpanelt.exp in corso...
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libpanelt.a: No such file or directory
C:\MinGW\bin\ar.exe: ~/ncurses-5.9/lib ~/ncurses-5.9
menut
/tmp/tmp-menut ~/ncurses-5.9/lib ~/ncurses-5.9
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libmenut.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libmenut.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libmenut.a: No such file or directory
C:\MinGW\bin\ar.exe:    Creazione della libreria wmenut.lib e dell'oggetto wmenut.exp in corso...
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libmenut.a: No such file or directory
C:\MinGW\bin\ar.exe: ~/ncurses-5.9/lib ~/ncurses-5.9
formt
/tmp/tmp-formt ~/ncurses-5.9/lib ~/ncurses-5.9
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libformt.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libformt.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libformt.a: No such file or directory
C:\MinGW\bin\ar.exe:    Creazione della libreria wformt.lib e dell'oggetto wformt.exp in corso...
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libformt.a: No such file or directory
C:\MinGW\bin\ar.exe: ~/ncurses-5.9/lib ~/ncurses-5.9
/tmp/tmp-ncursest_g ~/ncurses-5.9/lib ~/ncurses-5.9

gcc -shared -o wncursest_g.dll -Wl,--out-implib,libwncursest_g.dll.a -Wl,--output-def,wncursest_g.def -Wl,--enable-auto-import hardscroll.o hashmap.o lib_addch.o lib_addstr.o lib_beep.o lib_bkgd.o lib_box.o lib_chgat.o lib_clear.o lib_clearok.o lib_clrbot.o lib_clreol.o lib_color.o lib_colorset.o lib_delch.o lib_delwin.o lib_echo.o lib_endwin.o lib_erase.o lib_flash.o lib_gen.o lib_getch.o lib_getstr.o lib_hline.o lib_immedok.o lib_inchstr.o lib_initscr.o lib_insch.o lib_insdel.o lib_insnstr.o lib_instr.o lib_isendwin.o lib_leaveok.o lib_mouse.o lib_move.o lib_mvcur.o lib_mvwin.o lib_newterm.o lib_newwin.o lib_nl.o lib_overlay.o lib_pad.o lib_printw.o lib_redrawln.o lib_refresh.o lib_restart.o lib_scanw.o lib_screen.o lib_scroll.o lib_scrollok.o lib_scrreg.o lib_set_term.o lib_slk.o lib_slkatr_set.o lib_slkatrof.o lib_slkatron.o lib_slkatrset.o lib_slkattr.o lib_slkclear.o lib_slkcolor.o lib_slkinit.o lib_slklab.o lib_slkrefr.o lib_slkset.o lib_slktouch.o lib_touch.o lib_tracedmp.o lib_tracemse.o lib_tstp.o lib_ungetch.o lib_vidattr.o lib_vline.o lib_wattroff.o lib_wattron.o lib_winch.o lib_window.o nc_panel.o safe_sprintf.o tty_update.o varargs.o memmove.o vsscanf.o lib_freeall.o expanded.o legacy_coding.o lib_dft_fgbg.o lib_print.o resizeterm.o trace_xnames.o use_screen.o use_window.o wresize.o access.o add_tries.o alloc_ttype.o codes.o comp_captab.o comp_error.o comp_hash.o db_iterator.o doalloc.o entries.o fallback.o free_ttype.o getenv_num.o home_terminfo.o init_keytry.o lib_acs.o lib_baudrate.o lib_cur_term.o lib_data.o lib_has_cap.o lib_kernel.o lib_keyname.o lib_longname.o lib_napms.o lib_options.o lib_raw.o lib_setup.o lib_termcap.o lib_termname.o lib_tgoto.o lib_ti.o lib_tparm.o lib_tputs.o lib_trace.o lib_traceatr.o lib_tracebits.o lib_tracechr.o lib_ttyflags.o lib_twait.o name_match.o names.o read_entry.o read_termcap.o setbuf.o strings.o trace_buf.o trace_tries.o tries.o trim_sgr0.o unctrl.o visbuf.o alloc_entry.o captoinfo.o comp_expand.o comp_parse.o comp_scan.o parse_entry.o write_entry.o define_key.o hashed_db.o key_defined.o keybound.o keyok.o version.o lib_driver.o gettimeofday.o wcwidth.o win_driver.o tinfo_driver.o
lib_trace.o: In function `trace':
C:\MinGW\msys\1.0\home\Marco\ncurses-5.9\ncurses/../ncurses/./trace/lib_trace.c:100: undefined reference to `getwd'
write_entry.o: In function `nc_set_writedir':
C:\MinGW\msys\1.0\home\Marco\ncurses-5.9\ncurses/../ncurses/./tinfo/write_entry.c:226: undefined reference to `getwd'
collect2.exe: error: ld returned 1 exit status
lib
   Creazione della libreria wncursest_g.lib e dell'oggetto wncursest_g.exp in corso...
mv: cannot stat `wncursest_g.dll': No such file or directory
~/ncurses-5.9/lib ~/ncurses-5.9

panelt_g
/tmp/tmp-panelt_g ~/ncurses-5.9/lib ~/ncurses-5.9
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libpanelt_g.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libpanelt_g.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libpanelt_g.a: No such file or directory
C:\MinGW\bin\ar.exe:    Creazione della libreria wpanelt_g.lib e dell'oggetto wpanelt_g.exp in corso...
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libpanelt_g.a: No such file or directory
C:\MinGW\bin\ar.exe: ~/ncurses-5.9/lib ~/ncurses-5.9
menut_g
/tmp/tmp-menut_g ~/ncurses-5.9/lib ~/ncurses-5.9
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libmenut_g.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libmenut_g.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libmenut_g.a: No such file or directory
C:\MinGW\bin\ar.exe:    Creazione della libreria wmenut_g.lib e dell'oggetto wmenut_g.exp in corso...
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libmenut_g.a: No such file or directory
C:\MinGW\bin\ar.exe: ~/ncurses-5.9/lib ~/ncurses-5.9
formt_g
/tmp/tmp-formt_g ~/ncurses-5.9/lib ~/ncurses-5.9
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libformt_g.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libformt_g.a: No such file or directory
C:\MinGW\bin\ar.exe: C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libformt_g.a: No such file or directory
C:\MinGW\bin\ar.exe:    Creazione della libreria wformt_g.lib e dell'oggetto wformt_g.exp in corso...
C:/MinGW/msys/1.0/home/Marco/ncurses-5.9/lib/libformt_g.a: No such file or directory
C:\MinGW\bin\ar.exe: ~/ncurses-5.9/lib ~/ncurses-5.9
~/ncurses-5.9