The Financial Post reports in its Tuesday edition SouthGobi Resources says it may not have enough cash to see out the year as the Mongolian coal miner's majority shareholder agreed to defer its debt repayments and it seeks new financing deals. A Bloomberg dispatch to the Post quotes the company as telling the Hong Kong stock exchange, "There can be no assurance that the company will have sufficient funding for the balance of 2014 to be able to continue as a going concern." SouthGobi is seeking more financing, including coal prepayment, as a potential solution to continue operations. Turquoise Hill Resources holds 56 per cent of SouthGobi and is itself 51 per cent owned by London mining giant Rio Tinto. Bloomberg notes Turquoise Hill provided SouthGobi a $10-million revolving credit facility in May, $3.8-million of which has been drawn down. Blamed are lower coal prices. Mongolia's earnings from coal have steadily dropped from $2.27-billion in 2011 to $1.2-billion last year. SouthGobi's financial woes come amid allegations of tax evasion by the Mongolian government. Following two years of investigation, a court in Ulaanbaatar last week returned the tax case to the prosecutor for further investigation.