Day 1 Update
Started the development of the game, had a little spare time during the day. Got basic player movement as well as rotation of a muzzle around a pivot point (will be used for gun eventually, gun is just represented as a white dot in the clip, same goes for the bullets).
Added a HUD for Ammo & Clips
Now both auto-reload and manual reloading(pressing 'r') works to refill ammunition. I can also easily tweak some parameters relating to the player and the weapon: