Around Ponders End, plenty goes missing! (4)

I believe the answer is:

lost

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'missing' is the definition.
(similar in meaning)

I don't understand the rest of the clue.

(Other definitions for lost that I've seen before include "at sea" , "See 8" , "Not recognising one's whereabouts" , "See 10" , "Unable to find one's way" .)

I've seen this clue in the Evening Standard.

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