binutils 2.18 are broken :(
There is a subtle bug on the binutils 2.18 it is possible to reproduce if you build for example Daedalus PSP emulator, with the current SDK it fails to run, but with the old 0.9.5 or downgraded binutils the generated binary works... This is a very obscure bug that i will try to isolate but if any of the users of MinPSPW can help it would be welcome :)