I have a lakota 300 with a centrificial Clutch Thats slipping i think the clutch is toast.So i took it apart and there is still some pad left on the plate verry little.Also the oil in the case was grey like the clutch was fried.is this correct.
Sounds like you right.
Grey is often ground up aluminium. Check all the springs, adjuster and and such before you put it back together.