Alex Hales believes the King George VI Chase may come to soon for Millers Bank, who looks all set to step up in trip next time out.
The eight-year-old gelding went off as the 85/40 favourite at Huntingdon on Sunday, but found Pic D'Orhy two lengths too good.
Paul Nicholls' runner made all and was too fast for Kielan Woods' mount, who went second just after two out, but could not make any ground on the 9/4 winner.
A narrow runner-up to the same rival in the Pendil at Kempton in February, Millers Bank gained his revenge in the Grade One Manifesto Novices' Chase at Aintree in April when Pic D'Oehy was pulled up.
However, after a narrow reverse over two and a half miles to Beauport at Carlisle last month and another defeat again on Sunday, Hales insisted Woods' mount needs further.
"He seems absolutely fine and we were very pleased with him, really," said A M Hales. "I just felt he showed what we thought in the back of our mind, that he was ready for a step up to three miles.
"On a flat, right-handed track, they were just a bit too quick for him – he was flat out the whole way.
"I thought he stayed very well at Carlisle, although we always had the Peterborough as the plan.
"His jockey said he ran very well and so while we have now made that decision, it is whether or not we go to the King George.
"Kielan is very keen, but we are conscious it is only three weeks away.
"The result would not dissuade me, it is just getting the horse back in three weeks' time. You would have to be led by the horse.
"I'm not saying no, I'm just not saying yes. At the end of the day, if we had five weeks to it, I'd say yes, we'd chance our arm, but three weeks is a bit tight."
The Edgcote handler is keen to return to Aintree for the Betfair Bowl in April, yet feels there are not too many options over three miles for horses rated 150 or more.
"Flicking through the programme book and working back from the Bowl, it is a question of what fits in and where you go," added Hales.
"There are not that many options, and all the timings seem a bit lost. We just have to get our heads around it.
"I don't think Kempton Park is a problem and a flat three miles would be perfect, so it is a tough one.
"The original plan was to go to the Peterborough and then the Silviniaco Conti, but that's obviously two and a half (miles), so that's out the window.
"In January you have got very little. There is the Fleur De Lys at Lingfield (January 23), and it can come up heavy at that time of year. He handles soft, but heavy ground would not be ideal, so we will have to have a look and see how he is before deciding either way."
