Alloa are on the verge of signing the Hibs striker Ross Caldwell on loan for the rest of the season.
Manager Paul Hartley is also in talks with his former Hearts colleague Rudi Skacel about a deal to bring the veteran Czech to Recreation Park, although the Evening News has learned that an agreement remains some way off.
Caldwell has found game time limited at Hibs under Terry Butcher and is expected to finalise a loan move to Alloa within the next 48 hours.
The 20-year-old is keen to play regularly and the Championship side are after a striker to aid their ambitions of a play-off place this season.
Skacel is a free agent after leaving the Czech club Slavia Prague and has been in discussions with Hartley about returning to Scotland.
He enjoyed two successful spells at Hearts and a brief period at Dundee United, which ended last year.
However, so far, Hartley has yet to persuade Skacel to continue his career with Alloa, who are currently fifth in the Championship and 11 points behind leaders Dundee.Both parties are due to continue their talks.