Can you store a 33 pound can of Liquid Malt Extract for months?

Yes, I do it all the time. How do I do it?

1. measure out what I need
2. use a sanitized spatula to scrape the malt off the mouth of the can/jug
3. store it in the fridge
4. repeat

Over the years I've purchased four or five of these thirty three pound jugs and never had a problem. Thats way over twenty batches of beer.