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Xt500 starting problem

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I just bought a xt500 -76. It have Been standing in a barn for about 10 years and Im having problems starting it (no shit). It starts sometimes but dies when I give it gas. I have cleaned the carb. Changed the points and the condenser. It looks like the spark is very weak and the flywheel is almost non magnetic when I hold a screwdriver next to it. Could this be the problem?

Edited by Moxxi

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6 hours ago, S.O.A.N.Z said:

did you set the points gap correctly ?

also check your valve clearances

Yeah both the gap and the valves are set correctly. I found that the problem was the ignition timing. I had it set so the points open on the F mark. Thought that was best. But when i adjusted the timing back it runs much better :thumbsup:

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