Dear OCaml users and developers,

I am trying to compile a copy of OCaml on Windows 7 amd64, following
instructions in README.win32, but "make -f Makefile.nt" world dies with the
following error:

make[1]: Entering directory '/cygdrive/c/Users/me/src/ocaml/byterun'
flexlink -merge-manifest -stack 16777216 -exe -o ocamlrun.exe prims.obj
ws2_32.lib \
          libcamlrun.lib
** Fatal error: Cannot find file "ws2_32.lib"
Makefile.nt:23: recipe for target 'ocamlrun.exe' failed
make[1]: *** [ocamlrun.exe] Error 2
make[1]: Leaving directory '/cygdrive/c/Users/me/src/ocaml/byterun'

Initial set-up I tried compiling under was: cygwin64 command-line tools +
Windows SDK 8.1; I have also tried cygwin32 command-line tools + Microsoft
Windows SDK for Windows 7.

My ~/.msenv32 currently looks as follows:
VCPATH="`cygpath -p 'C:\Program Files (x86)\Microsoft Visual Studio
9.0\Common7\IDE;C:\Program Files (x86)\Microsoft Visual Studio
9.0\VC\BIN;C:\Program Files (x86)\Microsoft Visual Studio
9.0\Common7\Tools;C:\Program Files (x86)\Microsoft Visual Studio
9.0\Common7\Tools\bin;C:\WINDOWS\Microsoft.NET\Framework\;C:\WINDOWS\Microsoft.NET\Framework\\Microsoft
.NET Framework 3.5 (Pre-Release
Version);C:\WINDOWS\Microsoft.NET\Framework\v2.0.50727;C:\Program Files
(x86)\Microsoft Visual Studio 9.0\VC\VCPackages;C:\Program Files\Microsoft
SDKs\Windows\v7.0\bin;C:\ProgramData\Oracle\Java\javapath;C:\WINDOWS\system32;C:\WINDOWS;C:\WINDOWS\System32\Wbem;C:\WINDOWS\System32\WindowsPowerShell\v1.0\;C:\WINDOWS\System32\WindowsPowerShell\v1.0\;C:\Program
Files (x86)\Windows Imaging\;C:\Program Files\Microsoft SQL
Server\110\Tools\Binn\;C:\Program Files (x86)\Microsoft
SDKs\TypeScript\1.0\;C:\Program Files\Microsoft SQL
Server\120\Tools\Binn\;C:\Program Files
(x86)\Git\cmd;C:\texlive\2015\bin\win32;C:\Strawberry\c\bin;C:\Strawberry\perl\site\bin;C:\Strawberry\perl\bin;C:\Program
Files (x86)\Quarantine\;C:\Program Files (x86)\Windows Kits\8.1\Windows
Performance Toolkit\;C:\Program
Files\Mercurial\;c:\usr\bin;C:\MinGW\bin;c:\Program Files\7-Zip;C:\Program
Files (x86)\PuTTY'`"
LIBPATH="C:\WINDOWS\Microsoft.NET\Framework\;C:\WINDOWS\Microsoft.NET\Framework\v2.0.50727;C:\Program
Files (x86)\Microsoft Visual Studio 9.0\VC\ATLMFC\LIB;C:\Program Files
(x86)\Microsoft Visual Studio 9.0\VC\LIB;"
INCLUDE="C:\Program Files (x86)\Microsoft Visual Studio
9.0\VC\ATLMFC\INCLUDE;C:\Program Files (x86)\Microsoft Visual Studio
9.0\VC\INCLUDE;C:\Program Files\Microsoft
SDKs\Windows\v7.0\include;;C:\Program Files (x86)\flexdll"
FLPATH="`cygpath 'C:\Program Files (x86)\flexdll'`"
PATH="$VCPATH:$FLPATH:$PATH"
export PATH LIB LIBPATH INCLUDE
export OCAMLBUILD_FIND=/usr/bin/find

,and here is me trying to run the failing flexlink command by hand passing
in an extra -L argument:
 ~/src/ocaml/byterun$ flexlink -merge-manifest -L'C:\Program Files
(x86)\Microsoft SDKs\Windows\v7.1A\Lib' -stack 16777216 -exe -o
ocamlrun.exe prims.obj ws2_32.lib  libcamlrun.lib
 ** Fatal error: Cannot find file "OLDNAMES"