In a small saucepot, combine the stock and saffron and bring to a boil over medium heat. Reduce the heat to low and simmer to allow the saffron to steep.
In a large deep skillet with a lid or a Dutch oven, heat the EVOO over medium-high heat. Add the chorizo and render and brown for 2 minutes, then add the chicken and lightly brown. Stir in the mushrooms, onion and garlic as you chop them, then add the bay leaves, salt and pepper, to taste, and thyme. Put a lid on the pot and increase the heat to high for 5 minutes to soften the vegetables. Stir in the flour, add the sherry and stir for a minute more, then add the saffron broth.
While the vegetables soften, put the biscuit mix in a bowl and stir in the parsley and paprika. Add the liquids, according to the package directions, for the biscuits.
Drop eight small mounds of biscuit dough onto the surface of the chicken and sauce. Cover with a tight-fitting lid and cook for 5-6 minutes.
Ladle into shallow serving bowls and serve.