Fail to compile in Mac OS X 10.7.4

[Zohaib Rauf]

I am getting the following error while 'make' command

gcc -dynamiclib -o .libs/libcord.1.0.3.dylib cord/.libs/cordbscs.o cord/.libs/cordprnt.o cord/.libs/cordtest.o cord/.libs/cordxtra.o ./.libs/libgc.dylib -install_name /usr/local/lib/libcord.1.dylib -Wl,-compatibility_version -Wl,2 -Wl,-current_version -Wl,2.3
(cd .libs && rm -f libcord.1.dylib && ln -s libcord.1.0.3.dylib libcord.1.dylib)
(cd .libs && rm -f libcord.dylib && ln -s libcord.1.0.3.dylib libcord.dylib)
ar cru .libs/libcord.a cord/cordbscs.o cord/cordprnt.o cord/cordtest.o cord/cordxtra.o
ranlib .libs/libcord.a
creating libcord.la
sed: 2/vendor/gc/libgc.la: No such file or directory
libtool: link: `2/vendor/gc/libgc.la' is not a valid libtool archive
make[2]: *** [libcord.la] Error 1
make[1]: *** [all-recursive] Error 1
make: *** [vendor/gc/.libs/libgc.a] Error 2

Any idea how to resolve it