Try checking your stator. If you have a Blue and Red stator wires going to your Switch Box, you should get the following resistance readings when checking from the stator wire to ground. Disconnect the stator wires from the Switch box before you check the resistance. Blue to Ground should read 3250 - 3650 OHMs. Red to ground should read 75 - 90 OHMs.
If you've disconnected the Black/Yellow wire from the Switch Box (Ignition Kill Circuit) and still do not get spark, I would suspect that the stator is bad. Most likely the Blue winding (Low speed winding) is bad.