Nuitka - convert Python to C: Cannot locate suitable C Compiler

I am having issues with Nuitka; trying to convert python to c language, I get the following error;

Error, cannot locate suitable C compiler. You have the following options:

a) If a suitable Visual Studio version is installed, it will not be located automatically, unless you install pywin32 for the Python installation below "C:\Program Files (x86)\Microsoft Visual Studio\Shared\Python36_86".

b) To make it find Visual Studio without registry execute from Start Menu the 'Visual Studio Command Prompt' or "vcvarsall.bat". That will add Visual Studio to the "PATH". And it then will be detected.

c) Install MinGW64 to "C:\MinGW64" or "\MinGW", where then it is automatically detected or add it to PATH before executing Nuitka. But be sure to pick the proper variant (32/64 bits, your Python arch is 'x86'), or else cryptic errors will be shown.

Normal MinGW will not work! MinGW64 does not mean 64 bits, just better Windows compatibility. Cygwin based gcc will not work. MSYS2 based gcc will not work. clang-cl will only work if MSVC already worked.

I did the following;

• pip install pywin32 and it has already been satisfied (installed under site packages)
• installed MinGW64 from win-builds program on their website (tried both 64 and 32 bit versions)
  • checking version via cmd: i686-w64-mingw32-gcc --version I get the following error;

Error:

The code execution cannot proceed because libiconv.dll was not found. Reinstalling the program may fix this problem

After adding libiconv.dll to file location manually; I get the following error;

Error:

The application was unable to start correctly (0xc000007b).

• I also tried running as admin and get same issue.

I am obviously not doing something right, can anyone help me get MinGW64 installed correctly or fix the issue with other options?