Here you go...
>>>ls -la /psp
drwxr-xr-x 2 root root 1024 Mar 3 2010 .
drwxr-xr-x 23 root root 1024 Jan 1 1970 ..
>>>mkdir -p /mnt/psp --> This had no return
>>>mount -t ext3 /dev/mmcblk0p5 /mnt/psp
mount: mounting /dev/mmcblk0p5 on /mnt/psp failed
>>>strace mount /psp
execve("/bin/mount", ["mount", "/psp"], [/* 21 vars */]) = 0
brk(0) = 0x81000
uname({sys="Linux", node="(none)", ...}) = 0
mmap2(NULL, 4096, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_ANONYMOUS, -1, 0) = 0x4001d000
access("/etc/ld.so.preload", R_OK) = -1 ENOENT (No such file or directory)
open("/lib/tls/v5l/fast-mult/half/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/tls/v5l/fast-mult/half", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/tls/v5l/fast-mult/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/tls/v5l/fast-mult", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/tls/v5l/half/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/tls/v5l/half", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/tls/v5l/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/tls/v5l", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/tls/fast-mult/half/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/tls/fast-mult/half", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/tls/fast-mult/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/tls/fast-mult", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/tls/half/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/tls/half", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/tls/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/tls", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/v5l/fast-mult/half/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/v5l/fast-mult/half", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/v5l/fast-mult/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/v5l/fast-mult", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/v5l/half/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/v5l/half", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/v5l/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/v5l", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/fast-mult/half/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/fast-mult/half", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/fast-mult/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/fast-mult", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/half/libcrypt.so.1", O_RDONLY) = -1 ENOENT (No such file or directory)
stat64("/lib/half", 0xbee83288) = -1 ENOENT (No such file or directory)
open("/lib/libcrypt.so.1", O_RDONLY) = 3
read(3, "\177ELF\1\1\1\0\0\0\0\0\0\0\0\0\3\0(\0\1\0\0\0$\7\0\0004\0\0\0\230"..., 512) = 512
fstat64(3, {st_mode=S_IFREG|0755, st_size=45563, ...}) = 0
mmap2(NULL, 229700, PROT_READ|PROT_EXEC, MAP_PRIVATE|MAP_DENYWRITE, 3, 0) = 0x40026000
mprotect(0x4002f000, 28672, PROT_NONE) = 0
mmap2(0x40036000, 8192, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_FIXED|MAP_DENYWRITE, 3, 0x8) = 0x40036000
mmap2(0x40038000, 155972, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_FIXED|MAP_ANONYMOUS, -1, 0) = 0x40038000
close(3) = 0
open("/lib/libm.so.6", O_RDONLY) = 3
read(3, "\177ELF\1\1\1\0\0\0\0\0\0\0\0\0\3\0(\0\1\0\0\0\2501\0\0004\0\0\0\254"..., 512) = 512
fstat64(3, {st_mode=S_IFREG|0755, st_size=743679, ...}) = 0
mmap2(NULL, 704672, PROT_READ|PROT_EXEC, MAP_PRIVATE|MAP_DENYWRITE, 3, 0) = 0x4005f000
mprotect(0x40103000, 28672, PROT_NONE) = 0
mmap2(0x4010a000, 8192, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_FIXED|MAP_DENYWRITE, 3, 0xa3) = 0x4010a000
close(3) = 0
open("/lib/libc.so.6", O_RDONLY) = 3
read(3, "\177ELF\1\1\1\0\0\0\0\0\0\0\0\0\3\0(\0\1\0\0\0\300Q\1\0004\0\0\0\234"..., 512) = 512
fstat64(3, {st_mode=S_IFREG|0755, st_size=1553002, ...}) = 0
mmap2(NULL, 1212984, PROT_READ|PROT_EXEC, MAP_PRIVATE|MAP_DENYWRITE, 3, 0) = 0x4010c000
mprotect(0x40227000, 32768, PROT_NONE) = 0
mmap2(0x4022f000, 12288, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_FIXED|MAP_DENYWRITE, 3, 0x11b) = 0x4022f000
mmap2(0x40232000, 8760, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_FIXED|MAP_ANONYMOUS, -1, 0) = 0x40232000
close(3) = 0
mmap2(NULL, 4096, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_ANONYMOUS, -1, 0) = 0x4001e000
syscall_5(0x4001e830, 0x4001ef00, 0x4002567c, 0x4001ef08, 0x40025050, 0x40025000, 0, 0xf0005, 0x50, 0x1, 0xffff5118, 0xbee839d4, 0, 0xbee83850, 0x400114ec, 0x40001f78, 0x20000010, 0x4001e830, 0, 0, 0, 0, 0x101ec, 0, 0, 0, 0, 0, 0, 0, 0, 0) = 0
mprotect(0x4022f000, 8192, PROT_READ) = 0
mprotect(0x4010a000, 4096, PROT_READ) = 0
mprotect(0x40036000, 4096, PROT_READ) = 0
mprotect(0x40024000, 4096, PROT_READ) = 0
getuid32() = 0
brk(0) = 0x81000
brk(0xa2000) = 0xa2000
open("/etc/fstab", O_RDONLY) = 3
fstat64(3, {st_mode=S_IFREG|0644, st_size=825, ...}) = 0
mmap2(NULL, 4096, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_ANONYMOUS, -1, 0) = 0x4001f000
read(3, "rootfs / r"..., 1024) = 825
read(3, ""..., 1024) = 0
stat64("/dev/mmcblk0p5", {st_mode=S_IFBLK|0660, st_rdev=makedev(179, 5), ...}) = 0
mount("/dev/mmcblk0p5", "/psp", "ext3", MS_NOATIME|MS_SILENT, "data=journal") = -1 EINVAL (Invalid argument)
write(2, "mount: "..., 7mount: ) = 7
write(2, "mounting /dev/mmcblk0p5 on /psp f"..., 38mounting /dev/mmcblk0p5 on /psp failed) = 38
write(2, "\n"..., 1
) = 1
exit_group(-1) = ?
