Using a recent MkIV beta (2014.03.27), it seems that a page reference to a figure fails if the figure location is "none." Here is a minimal example: \starttext \input knuth \placefigure[none][regularref]{}{\pagereference[workaroundref] \externalfigure[cow.pdf]} \input knuth See \at{page}[workaroundref] or \at{page}[regularref] \stoptext The log file has references > unknown reference '[][regularref]' and the .pdf file has See page 1 or page ?? That is, the "\at{page}[regularref]" doesn't work. (But the workaround reference does work.) If the figure's location key is changed from "none" to "nonumber" or just deleted, then the regularref page reference works. It also works with MkII (with or without "none"), so I am guessing that it is a bug in MkIV. -Sanjoy