I'm not a Briggs expert by any means, but most Briggs Magnetron ignitions are located up by the engine's flywheel, and use a magentic induction coil to generate the spark. (Its a point-less magneto.) I'm fairly sure the module thing you see on the side of the engine is the regulator/rectifier for the battery charging system. Magnetron is a simple and not an expensive item to service, but you'll want a manual to work on it or have a pro work on it, I remember the gap setting for the coil is critical. You could aslo have a fault on the ignition switch itself, I think the ignition switch on the magnetron engines grounds out the system to stop the engine. That was the extent of my Briggs know-how and its probably dated LOL /forums/images/graemlins/grin.gif
-Fordlords-