FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  HIGH PLAINS A & M LLC
 2. Date of Event Requiring Statement (Month/Day/Year)
08/31/2006		 3. Issuer Name and Ticker or Trading Symbol
PURE CYCLE CORP [PCYO]
(Last)
(First)
(Middle)
333 WEST HAMPDEN AVENUE, SUITE 810		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

DENVER, CO 80110		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 3,000,000 (1)
D (1)
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
HIGH PLAINS A & M LLC
333 WEST HAMPDEN AVENUE
SUITE 810
DENVER, CO 80110		     X    
WHITE H HUNTER III
333 WEST HAMPDEN AVENUE
SUITE 810
DENVER, CO 80110		     X    
BAUS M WALKER
333 WEST HAMPDEN AVENUE
SUITE 810
DENVER, CO 80110		     X    

Signatures

/s/ Jason Day, Attorney in Fact for High Plains A & M LLC 09/08/2006
**Signature of Reporting Person Date
/s/ Jason Day, Attorney in Fact for H. Hunter White, III 09/08/2006
**Signature of Reporting Person Date
/s/ Jason Day, Attorney in Fact for M. Walker Baus 09/08/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) H. Hunter White, III and M. Walker Baus are Members and Managers of High Plains A & M, LLC and have voting authority over the shares held by High Plains A & M, LLC. Mr. White has investing power over the shares held by High Plains A & M, LLC. Both Messrs. White and Baus disclaim beneficial ownership of the shares held by High Plains A & M, LLC except to the extent of their respective pecuniary interest therein.

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