evinrude starter problems/rebuild question please help

[nsurdisjr]

My boat when i first took it out on the water my battery died quickly as i tryied to start it up, the next time i went out i found out all i have to do is wiggle the positive terminal on the starter and it will start it, it had a bad connection



So i took the starter off and i finally got it apart.. i quickly found out the positive terminal wire at the end was fried and black.. and when i touched it the small block thing on it fell off looks like a really tiny rectangle magnet.. i need help on fixing this........

its a 1975 evinrude 70 horsepower.

[boats.net]

Here is parts diagram on starter, 1975 75542B Evinrude / Johnson Evinrude ELECTRIC STARTER AMERICAN BOSCH 10629-23-M030SM Diagram and Parts