Hi, Before doing anything drastic such a taking your magneto apart, try this. Chrome cover on magneto/generator can be removed by taking a long screw driver, stick it through top left side of motor and tap gently on top edge of cover lip and on either side, it will slip off eventually.
Hand rotate till points look like they are closed, may need small f lashlite to clearly see and look at cam, is it rusty? it will hold points open and they will never fire. If rusty take a can of Gum Out type lubricant and spray very gently on cam, do use more then one very gentle squirt. Rotate magneto to spread lube, let soak awhile, take the end of a real small file like you use ot file spark plugs and stick through slot in magneto and scrape as much rust off as you can, it will take awhile but it worked for me.