Owner Stephen Curran would be unfazed if Flemenstar missed the keynote National Hunt festivals this spring.
Tony Martin's 10-year-old continues to make good progress from a bad injury that has kept him out of action since November 2013.
But with Cheltenham in March already a non-starter, the three-times Grade One winner will not be risked until he has shown he can handle a return to the track.
Curran said: "Flemenstar is very good, and we are hoping to up the pace with him in the next few weeks.
"It's one day at a time, but he couldn't be better at the moment.
"He misses Cheltenham, obviously, but it wouldn't be the end of the world if he also missed Fairyhouse and Punchestown.
"The next three weeks should tell us where we stand."