In a small sauce pot combine the stock and saffron, 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 extra-virgin olive oil 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, onions and garlic as you chop them and 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 a minute more, then add the saffron broth.
While vegetables soften, put the biscuit mix in a bowl and stir in the parsley and paprika. Add the liquids to package directions for the biscuits.
Drop 8 small mounds of biscuit dough onto the surface of the chicken and sauce. Cover with tight fitting lid and cook for 5 to 6 minutes.
Ladle into shallow serving bowls and serve.