FORM 8-K

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Date of Report (Date of earliest event reported)  August 31, 2000.


                            HIGH PLAINS CORPORATION

            (Exact name of registrant as specified in its charter)


Kansas                                                             #1-8680
(State or other jurisdiction of                           (Commission File
incorporation)                                                     Number)



200 W. Douglas                                                 #48-0901658
Suite #820                                                   (IRS Employer
Wichita, Kansas  67202                                 Identification No.)
(Address of principal
executive offices)


                               (316) 269-4310
                      (Registrant's telephone number)





Item 5  Other Information

Wichita, KS, August 31, 2000 -- High Plains Corporation (Nasdaq: HIPC) today
announced that impressive operating gains in its fourth quarter and fiscal
year were obscured by two charges taken in the final quarter.

Pre-tax operating income for the fiscal year ended June 30, 2000 was $5.0
million, or $.31 per share, before a write-down of the Portales, New Mexico
ethanol facility and grain futures related expenses.  After taxes and
recognition of these expenses, the company reported net earnings of $160,354,
or $.01 per share for the year.  This compares with net earnings of $534,881,
or $.03 per share, for fiscal 1999.

The write-down of the Portales facility to its net realizable value accounted
for approximately $1.0 million of the fourth quarter loss.  The sale of this
facility is still pending, but has been delayed by agreement until late in
the second fiscal quarter.  The loss also includes approximately $1.8 million
in expenses incurred liquidating unfavorable grain futures and options
positions.  Without these charges, fourth quarter net earnings before tax
would have been $1.2 million.  After taxes and these charges, all taken in
the fourth fiscal quarter, the company reported a net loss of $1,213,293, or
$.07 per share, compared to a net loss of $825,500, or $.05 per share,
reported for the same period a year ago.

Reflecting the year's operating success, sales for the fiscal year showed an
increase to $109 million from $97 million a year ago.  Fourth quarter sales
also were very positive, increasing to $33 million, a 38% increase over the
$24 million in fiscal 1999's like period.





"This was an amazing year for High Plains," said Gary Smith, Chief Executive
Officer.  "Regrettably, our futures positions on grain anticipated upward
pressure from weather and exports, which didn't occur.  Risk management is as
much an art as it is a science.  It requires considerable experience and an
intimate knowledge of the market and related forces.  We are now coordinating
all of our grain purchases in house, and the new team we have put in place to
handle this function has that combination."

High Plains predicts a bright future, according to Smith.  The company
projects strong earnings in fiscal 2001, as the market fundamentals continue
to show signs of strength.  Ethanol prices have risen markedly since
December, following the trend of unleaded gasoline prices.  "Given OPEC's
desire to maintain oil prices in the $25 per barrel range, we expect prices
to remain firm," Smith said.  "On the other hand, current grain costs have
decreased from $2.30 per bushel to less than $2.00 per bushel since March, so
the company's margins have improved.  Having liquidated its grain futures
positions, High Plains is in a position to buy grain feedstock for fiscal
2001 at market prices that are the lowest in years."

Another positive factor, according to Smith, is that MTBE, a fuel additive
that is ethanol's main competitive product, has been banned or had its use
limited by several states after evidence that it is polluting ground-water
tables.  The Environmental Protection Agency recently unveiled a plan to
phase out MTBE altogether nationwide.  This could open up the 85 percent of
the fuel additive market currently supplied by MTBE for ethanol manufactures,
according to the Renewable Fuels Association.

High Plains also is exploring diversifying its product line, Smith said.
"Our business remains strongly rooted in making usable energy out of corn and
milo," Smith explained.  "But our vision has broadened considerably.  We
believe that diversification into other chemical products using our existing
technologies and facilities is the best way to bring added stability to our
revenues, our profit margins and our stock price.

Smith also commented on the strengthened financial position of High Plains.
In December, the company obtained a $20 million term loan from Bank of
America that refinanced existing debt and improved liquidity.  "The
restructuring of our balance sheet converted $6.5 million of short-term debt
to long-term debt," Smith said.





"With new products and an energetic and talented management team, we are
definitely raising the bar for High Plains' performance," Smith believes.
"Fiscal 2001 will be an exciting year."

A conference call with management to review these results will take place
Friday, September 1, 2000 at 10:00 a.m. CDT and 11:00 a.m. EDT.  To
participate in that teleconference, call 888-244-7407 approximately 10
minutes prior to the call.  Tell the operator you wish to participate in call
ID# J123.

Based in Wichita, Kansas, High Plains Corporation is among the nation's
largest producers of ethanol.  The company operates facilities in Colwich,
Kansas, York, Nebraska, and Portales, New Mexico.


This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995.  Investors are cautioned that all forward-looking statements involve
risks and uncertainties, including without limitation risks of fluctuations
in feedstock commodity prices, changes in the market prices or demand for
motor fuels and Ethanol, legislative changes regarding air quality, fuel
specifications or incentive programs, as well as general market conditions,
competition and pricing.  The Company believes that forward-looking
statements made by it are based upon reasonable expectations.  However, no
assurances can be given that actual results will not differ materially from
those contained in such forward-looking statements.  Additional information
concerning these and other factors is contained in the Company's Securities
and Exchange Commission filings, including its annual 10-K, Proxy Statement
and quarterly 10-Q filings, copies of which are available from the Company
without charge.






                           High Plains Corporation
                      Consolidated Statements of Income



                                         Fiscal Year Ended
                                             June 30,
                                      2000               1999
                                                
Net sales and revenues            $108,531,461        $96,729,806

Net earnings (loss)               $    160,354        $   534,881

EPS - basic                       $        .01        $       .03

EPS - diluted                     $        .01        $       .03






                                        Three Months Ended
                                             June 30,
                                      2000               1999
                                                
Net sales and revenues            $ 32,912,232        $23,643,052

Net earnings (loss)               $ (1,213,293)       $  (825,500)

EPS - basic                       $      (0.07)       $     (0.05)

EPS - diluted                     $      (0.07)       $     (0.05)








                                  SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant had duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



Date:     August 31, 2000                 HIGH PLAINS CORPORATION


                                          /s/Gary R. Smith
                                          President & CEO