Is that a white wire I see in the background folded out of the way, You can usually cut that off from the magneto.
Take the cover off and take a couple of pictures.
One more thing check that the screws are tight that are holding the magneto my last motor they were all loose except for one. If I had of drivin like that I'm sure it would of broke something. In fact check all the nuts and bolts on the motor.
I also took my magneto off and sanded the shellac off to make it electrically ground better to the motor, make sure you put it back on the right way or the bike will not run